Russia cuts rates to 20% as ruble becomes world’s best-performing currency this year

Russia’s central bank cut interest rates by 100 basis points on Friday, bringing the key rate down to 20% for the first time since September 2022. The cut comes as inflation, which President Vladimir Putin had previously called “alarming,” finally shows signs of cooling. The decision was made after inflation dropped to 6. 2% in April, […] source: https://www.cryptopolitan.com/russia-cuts-rates-ruble-best-currency/