MOSCOW, July 24. /TASS/. The MOEX Index shifted to growth during the main trading session following the Russian Central Bank’s decision to cut the key rate to 14% per annum, according to trade data. The ruble responded by slowing its growth against the yuan.

As of 1:25 p.m. Moscow time (10:25 a.m. GMT), prior to the publication of the regulator’s decision, the MOEX Index was down by 2.54% at 2,090.45 points, while the RTS Index was down by 2.54% at 839.92 points. The yuan exchange rate stood at 11.47 rubles (-9.35 kopecks).

As of 1:30 p.m. Moscow time (10:30 a.m. GMT), following the publication of the Central Bank’s decision to cut the key rate, the MOEX Index was up by 0.35% at 2,152.57 points, while the RTS Index was up by 0.35% at 864.88 points. The yuan slowed its decline to 9.15 kopecks reaching 11.48 rubles.

As of 1:44 p.m. Moscow time (10:44 a.m. GMT), the MOEX and RTS indices were down by 0.58% at 2,132.47 and 856.8 points, respectively. The yuan exchange rate against the ruble was down by 7.2 kopecks at 11.5 rubles.

Meanwhile the dollar exchange rate on the Russian interbank market was down by 20.89 kopecks at 78.09 rubles, while the euro was down by 12.5 kopecks at 88.94 rubles.

On July 24, the Bank of Russia cut the key rate from 14.25% to 14% per annum.