Ruble shows weak response to reduced key rate

Business & Economy April 24, 14:43

The Bank of Russia lowered the key rate for the eighth time in a row

MOSCOW, April 24. /TASS/. The ruble has not almost responded during the trading session on the Moscow Exchange to the decision of the Bank of Russia to slash the key rate to 14.5% per annum, according to trading platform data.

The yuan was at the level of 11.0355 rubles, down 3.45 kopecks, before the decision. The yuan slightly accelerated later to 11.02 rubles, minus five kopecks.

The Bank of Russia lowered the key rate for the eighth time in a row, this time by 0.5 percentage point (pp) to 14.5% per annum.

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