RUSSIAN CENTRAL BANK CUTS INTEREST RATE.

Publication: Monitor Volume: 3 Issue: 117

June 16, 1997 07:00 AM Age: 28 years

On June 13 Russia’s Central Bank cut its refinancing rate from 36 to 24 percent, hoping to stimulate business borrowing and thus revive the economy. Annual inflation is currently running at 14.6 percent. (Kommersant-daily, June 14)

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