Russian central bank cuts reserve requirements to free up 2.7 trln roubles

© Reuters. FILE PHOTO: People walk past the Central Bank headquarters in Moscow, Russia February 11, 2019. REUTERS/Maxim Shemetov

MOSCOW (Reuters) – The Russian central bank on Wednesday said it was cutting banks’ reserve requirements, a move that will enable them to release more money to customers and businesses at a time when the economy is being slammed by Western sanctions.

The central bank said the move would cut the amount of banks’ mandatory reserves by 2.7 trillion roubles ($26.19 billion).

($1 = 103.1000 roubles)

Russian central bank cuts reserve requirements to free up 2.7 trln roubles

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