“Russia, the largest emerging economy to raise rates in 2012, took a step toward the first round of monetary easing in a year after the economy slowed and inflation stabilized.
Bank Rossii cut the cost to swap foreign currency into rubles by a quarter point to 6.5 percent, the Moscow-based central bank said in a statement on its website today. The regulator raised the deposit rate to 4.5 percent from 4.25 percent, effective tomorrow, and left its main lending rates unchanged, calling the moves “neutral” for monetary policy….”
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