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    Russia cuts key interest rates

    Bloomberg
    24 Nisan 2009 - 00:00Son Güncelleme : 23 Nisan 2009 - 17:15

    MOSCOW - Russia cut its main interest rates for the first time since 2007 after data showed the contraction in the economy may be deeper than expected.

    Bank Rossii cut the refinancing rate, the limit for borrowing, to 12.5 percent from 13 percent and lowered the repo rate charged on central bank loans in repurchase auctions to 11.5 percent from 12 percent. The Lombard rate, charged on loans backed by first-class securities, also dropped to 11.5 percent. The cuts are effective today.

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