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Russia's Central Bank cuts key rate from 14% to 12.5%

April 30, 2015, 15:29 UTC+3
This is the third rate slash since the beginning of year
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© Anton Novoderezhkin/TASS

MOSCOW, April 30. /TASS./ Russia’s Central Bank has lowered the key interest rate by 150 percentage points to 12.5%, the Bank’s press service said following the Bank of Russia’s board meeting on Thursday.

The decision goes in effect on May 5, 2015.

This is the third rate slash since the beginning of year. In January the rate was cut from 17% to 15%, to be then reduced by another percentage point in March to reach 14%.

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