By reducing the key rate, the Central Bank of Russia is responding to a collapse in business activity, the scale of which was more than official forecasts, said Gennady Lyaskin, candidate of economic sciences, head of the Department of Economic Theory at Novosibirsk State University of Economics and Management. Recall that earlier the Central Bank of Russia reduced the key rate by 1% from 5.5% to 4.5%. See also: The Bank of Russia reduced the key rate by 100 basis points. The Central Bank of the Russian Federation for many years adamantly pursuing the goal of keeping inflation at any cost, showed mercy and weakened the high interest rate on the Russian economy. The last decrease immediately by a percentage point to the level of 4.5% is something extraordinary for the monetary authorities. However, compared to developed economies, this may even look half a measure. The US Federal Reserve rate is 0.25%, the European Central Bank credits at zero interest, and in Switzerland and Japan ther...