Russian central bank cuts key interest rate by half a point

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Moscow (AFP)

Russia's central bank on Friday cut its key interest rate by half a percentage point to 10 percent, the first reduction since June as Moscow seeks to jump-start the economy.

In a statement the bank said it would now stick to the new rate until the "end-2016 with the possibility to cut it in 2017" in its efforts to keep a lid on inflation.