Russia Maintains Benchmark Interest Rate at 4.25%

Vladimir Putin, President of Russia [Image source=Yonhap News]

[Asia Economy Reporter Donghyun Choi] On the 23rd (local time), the Central Bank of Russia decided to keep its benchmark interest rate unchanged at the current annual rate of 4.25%.

The Central Bank of Russia has cut the benchmark interest rate four times this year to mitigate the economic impact caused by the novel coronavirus disease (COVID-19) and has maintained a freeze on the rate for two consecutive times.

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