MOSCOW, June 19. /TASS/. The MOEX index moved into negative territory during the main trading session after the Bank of Russia decided to cut its key rate to 14.25% per annum, according to trading data. The ruble strengthened against the yuan in response.
As of 1:25 p.m. Moscow time, before the regulator's decision was published, the MOEX index was up 0.33% at 2,449.22 points, while the RTS index had gained 0.33% to 1,051.76 points. At the same time, the yuan traded at 10.823 rubles (+3.35 kopecks).
As of 1:30 p.m. Moscow time, following the Central Bank's decision, the MOEX index had turned lower and stood at 2,409.53 points (-1.3%), its lowest level since December 18, 2024. The RTS index was also down 1.3% at 1,034.7 points. The yuan moved into negative territory and traded at 10.786 rubles (-0.35 kopecks).
By 1:46 p.m. Moscow time, the MOEX index and the RTS index were both down 1.2%, standing at 2,412.05 points and 1,035.79 points, respectively. The yuan-to-ruble exchange rate stood at 10.797 rubles (+0.8 kopecks).
At the same time, the US dollar gained 17.03 kopecks on Russia's interbank market to 73.49 rubles, while the euro fell 16.5 kopecks to 83.84 rubles.
The Bank of Russia cut its key rate by 25 basis points to 14.25%. The regulator said it would assess the need for further key rate cuts at upcoming meetings depending on the sustainability of the inflation slowdown, inflation expectations dynamics, and its assessment of risks stemming from domestic and external conditions.