Russian Central Bank cuts key interest rate to stimulate economyApril 30, 2015 - 16:22 AMT PanARMENIAN.Net - The Russian Central Bank cut its key interest rate by 1.5 percentage points to 12.5 percent on Thursday, April 30, to stimulate the economy as it heads into recession, the Associated Press reports. The bank said a reduced threat of runaway inflation, which slowed slightly to 16.5 percent in April, had made the cut possible, but said there remained a risk of "a significant cooling of the economy." Thursday's rate cut is the third since December, when the Central Bank raised rates to 17 percent overnight to defend the then-plummeting value of the ruble. The bank did not update its prediction that the economy will shrink by between 3.5 percent and 4 percent this year, although it did say that indicators point to "a significant decline in GDP in the first quarter" of the year. 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 | Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan. Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. |