Russian Central Bank reduces key rate

According to the results of today's meeting of its board of directors, the Bank of Russia decided to reduce the key rate by 1 percentage point, up to 11.5% per annum from 16 June, a press-release of the regulator reads.

"The Board of Directors of the Bank of Russia have decided on June 15th 2015 to reduce the key rate from 12.50% to 11.50% per annum, given the further weakening of inflationary risks with a preservation of the risks of material cooling of the economy," RIA Novosti cites the text of the message.