Russia's central bank on Thursday cut its key interest rate by 1.5 percentage points to 12.5 percent, citing declining inflation risks and a rebound in the ruble.
The rate was lowered from 14 percent, "taking account of lower inflation risks and persistent risks of considerable economy cooling," the bank said in a statement, adding that it "will be ready to continue cutting the key rate" if inflation risks were to diminish further.
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