The ruble lost over 10% against the dollar on Thursday after the Russian central bank cut interest rates by three percentage points Read Full Article at RT.com
Russia’s central bank delivered its third interest-rate reduction in just over a month and said borrowing costs can fall further still, halting a rally in the ruble as it unwinds the financial defenses in place since the invasion of Ukraine.
The Russian rouble slumped around 10% against the dollar in volatile trade to a two-week low on Thursday as the central bank cut interest rates to 11% and suggested more cuts would follow as inflation.