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 | Viva-MTS: Tech solutions to modernize infrastructure of border village The border village has been the focus of Viva-MTS and the Foundation for the Preservation of Wildlife and Cultural Values since 2015. Ucom's fixed network launched in Artashat To mark this occasion, the company has introduced a special offer exclusively for Artashat residents. “By Your Side”: IDBank's new support program for displaced Artsakh citizens IDBank is launching a long-term social support program for forcibly displaced Artsakh residents. The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. |