MOSCOW.Russia’s central bank lowered its main interest rates by a quarter percentage point after the world’s biggest energy exporter suf...
MOSCOW.Russia’s central bank lowered its main interest rates by a quarter percentage point after the world’s biggest energy exporter suffered a record economic contraction and as the nation faces a slow recovery. Bank Rossii cut the refinancing rate to 10.5 percent from 10.75 percent and lowered the repurchase rate charged on central bank loans to 9.5 percent from 9.75 percent, effective from tomorrow. The bank has cut the rates six times since April 24. It last lowered them by a quarter point.
BEIJING. China accused Washington yesterday of violating World Trade Organization rules by raising tariffs on Chinese tires and demanded talks in the WTO on the latest and most acrimonious in a string of trade disputes. President Barack Obama approved the tariffs Friday to slow the rapid growth of US imports of Chinese-made tires that have been blamed for the loss of thousands of American jobs. That drew an accusation of trade protectionism from Beijing.