December 25th, 2009 - MOSCOW (Dow Jones)--Russia's central bank cut key interest rates Friday for the tenth time this year in an attempt to stimulate lending and turn back the tide of speculative capital that has flooded the ruble in recent months.
The reduction in the refinancing rate, the benchmark to which commercial banks tie their deposit rates, to a record low 8.75% from 9% is effective Monday. Other key rates, such as the one-day repurchase rate on central bank loans, were cut as well.
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