Cut in Russian interest rate to 14% 'not enough to revive steel demand'

Russia’s central bank decided on Friday April 29 to cut its key interest rate to 14% per year from the previous 17%, to which it was reduced on April 11, according to a statement published on its official website.

On February 28, the Bank of Russia had more than doubled the interest rate to 20% from the previous 9.5% in an effort to protect the rapidly falling rouble, whose...


Elina Virchenko

May 03, 2022

16:28 GMT