Russia cuts key interest rate

Russia's central bank will cut its main refinancing rate by half a
point to 10.0 percent, it said in a statement Tuesday, in its latest
bid to stimulate the country's economy. The bank's directors "decided
to lower the Central Bank's refinancing rate by 0.5 points to 10.0
percent, starting on September 30 ," it said. The decision was
motivated by "the need for additional stimulation of economic
activity," it added.