June 15, 2015 / 10:34 AM / 4 years ago

Russian central bank cuts key rate by 1 pct point

MOSCOW, June 15 (Reuters) - Russia’s central bank cut its main interest rate by 1 percentage point on Monday as inflation eases and an economic downturn worsens.

The central bank said in a statement that it had lowered its one-week minimum auction repo rate to 11.5 percent from 12.5 percent previously.

Economists polled by Reuters had predicted the bank would cut its main lending rate by 1 percentage point. (Reporting by Lidia Kelly and Alexander Winning, editing by Elizabeth Piper)

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