Russian finance minister backs central bank rate cut

Russian Finance Minister Anton Siluanov backed the central bank's decision to cut its main interest rate on Friday and said the bank had grounds to say it had the situation on the foreign exchange market under control. The central bank cut its main interest rate by 200 basis points to 15 percent as fears of recession mount following the fall in oil prices and Western sanctions over the Ukraine crisis. The central bank's decision to cut rates came little more than a month after the ruble's virtua