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 | 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. |