MOSCOW, December 19. /TASS/. The Russian stock market declined during the main trading session amid the Central Bank's decision to lower the key rate to 16%, according to annual trading data. Meanwhile, the ruble strengthened slightly against the yuan.

As of 1:25 p.m. Moscow time, before the regulator's decision was published, the MOEX Index rose 1.06% to 2,782.39 points, and the RTS Index also rose 1.06% to 1,095.23 points.

At the same time, the yuan-to-ruble rate stood at 11.402 rubles (up 5.05 kopecks).

As of 1:30 p.m. Moscow time, following the Central Bank's decision, the MOEX Index declined to 2,745.11 points (-0.29%), while the RTS Index fell 0.29% to 1,080.04 points. The yuan slowed its gains to 11.3925 rubles (up 4.05 kopecks).

By 1:45 p.m. Moscow time, the MOEX and RTS indices were down 0.02% to 2,752.47 points and 1,083.45 points, respectively. The yuan-to-ruble rate stood at 11.4 rubles (up 4.8 kopecks). Meanwhile, the dollar exchange rate on the Russian interbank market rose 0.88% to 80.49 rubles, while the euro rose 0.5% to 94.04 rubles.

The Bank of Russia lowered its key rate by 50 basis points to 16% per annum amid a decline in the current sustainable price growth rate. However, in a press release, the regulator noted increased inflation expectations, which could hinder the achievement of inflation targets.