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Eurozone fears prompt Swedish rate cut Russia has cut its benchmark refinancing rate unexpectedly from 8.25 percent to eight percent.
The new rate comes into effect on December 26 said a statement on Russia’s central bank website.
The move comes into force as inflation in the country decelerates to the lowest year-end level since the Soviet Union collapsed two decades ago.
The overnight deposit rate, used to withdraw cash will increase a quarter point to four percent.
More about: Banking, Interest rates, RussiaCopyright © 2012 euronews
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