Russia cuts main interest rate, says inflation ‘stabilizing’January 30, 2015 - 16:59 AMT PanARMENIAN.Net - Russia has cut its main interest rate from 17% to 15% because inflation "is stabilizing", according to BBC News. The ruble fell by more than 2% against the dollar following the central bank announcement. Russia's economy has been suffering for a range of reasons, including economic sanctions by the West over its involvement in the crisis in Ukraine. This week the government said it would put measures in place to try to stave off an economic crisis. The measures included investing at least 2.34 trillion rubles ($35bn) in the economy, following a collapse in oil prices and the ruble. The Bank of Russia said the interest rate could be cut "due to the shift in the balance of risks of accelerated consumer price growth and cooling economy." The ruble fell around 2.4% against the dollar on the news, leaving the dollar worth more than 70 rubles. Photo: RIA Related links: Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. Macron says France commemorates 109th anniv. of Armenian genocide Today France commemorates the 109th anniversary of the Armenian genocide of 1915, Macron says. Freedom House concerned by mounting reports of police violence in Armenia Freedom House urged Armenian authorities to investigate this pattern of excessive force and inhumane treatment. |