Rate move highlights gap between Russia and other Brics
Mired by weak lending, Russia's rate cut has underlined the divergence between it and fellow emerging-market economies such as Brazil, India and China.
The Bank of Russia cut rates by 25 basis points to 7.75% on Monday. The cut, which was the central bank's 14th since April 2009, comes at a time when its fellow Brics are tightening.
Some analysts were surprised by Russia's decision given that year-on-year GDP growth had registered at 5.5% in April. "I didn't expect it. The central bank gave
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