* Refi rate cut by 50 bps to 9.50 pct

* C.bank says industrial output, bank lending still weak

* Rate cuts could help tame rouble rally

By Yelena Fabrichnaya and Toni Vorobyova

MOSCOW, Nov 24 (Reuters) - Russia's central bank on Tuesday unveiled a widely-expected interest rate cut, its ninth since April, in a bid to slow down the appreciation of the rouble and support the economy's still fragile recovery from recession.

The benchmark refinancing rate was reduced by 50 basis points effective from Wednesday, to a new historic low of 9.00 percent. Other rates were also reduced by the same amount, taking the minimum rate on one-day repo auctions -- a key central bank liquidity tool -- to 6.25 percent.

"Lending activity of Russian banks is still at a low level, and internal demand remains insufficient to ensure stable growth of manufacturing, which led to the need to cut rates," the central bank said in a statement.

"The decision (to cut rates) was taken with the aim of further increasing the accessibility of credit resources...and stimulating end demand."