Russia cuts interest rates as crisis bites

Author (Person)
Series Title
Series Details 24.4.09
Publication Date 24/04/2009
Content Type

Article reports that Russia’s central bank cut interest rates on the 23 April 2009 after both unemployment and economic growth figures published in the week showed the economic crisis biting worse than previously expected.

Russia's Finance Minister Alexei Kudrin called on the country to dramatically cut back spending because it was quickly using up its foreign currency reserve funds, its so-called 'rainy day' fund.

Related Links
BBC News, 23.4.09: Russia warns on spending splurge http://news.bbc.co.uk/1/hi/business/8015186.stm

Countries / Regions