The Bank of Russia has lowered the key interest rate to 18 percent.

The Bank of Russia has lowered the key interest rate to 18 percent.

      Today, the Board of the Bank of Russia decided to cut the key rate to 18% per annum, a decrease of 200 basis points. Central Bank representatives noted that inflationary pressures are easing faster than expected, and the economy continues to return to a trajectory of balanced growth.

      The Bank of Russia also announced that it will maintain the necessary tightness of monetary conditions to bring inflation back to the target (4%) by 2026. This implies a key rate in the range of 18.8-19.6% per annum in 2025 and 12-13% per annum in 2026. However, further decisions may be influenced by several factors, including inflation.

      It is worth noting that the next meeting on the key rate will be held on September 12.

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The Bank of Russia has lowered the key interest rate to 18 percent.

The regulator explained what this decision is related to.