Russian Central Bank Cuts Key Rate to 14% From 14.25%
Policymakers warned annual inflation could reach 7% later this year as they continued gradual easing after raising borrowing costs to 21%.
- On Friday, Russia's Central Bank lowered its key interest rate from 14.25% to 14%, continuing a cautious path of monetary easing amid mounting signs of economic slowdown.
- Disruptions to domestic oil refining capacity and higher fuel costs prompted concerns, as Ukrainian attacks on Russian energy assets and Wildberries threatened to fuel renewed inflation pressures.
- Policymakers downgraded their 2026 GDP growth forecast to between 0% and 1%, while annual inflation rose to 5.9% as of July 20, driven by temporary production declines.
- Household inflation expectations hit 14.7% in July, the highest level since the invasion of Ukraine began, while most analysts had expected the Central Bank to hold rates unchanged.
- The Central Bank warned it now expects consumer prices to climb between 6% and 7% later this year, even as Governor Elvira Nabiullina aims to bring inflation back to its 4% target by 2027.
37 Articles
37 Articles
Russian Central Bank Governor Elvira Nabiullina announced that they have cut the policy interest rate by 25 basis points to 14 percent, while raising their inflation forecast for the end of 2026 to between 6 and 7 percent.
Russia's central bank has further lowered its key interest rate to 14 percent, thereby supporting the economy that is increasingly suffering from the war of aggression against Ukraine, but at the same time the risk of inflation is rising. By Björn Blaschke.
Russia's Central Bank Reduces Key Rate to 14 Percent, Warns of Persistent Inflation Risks
The Board of Directors of the Bank of Russia voted at its July 24 meeting to lower the key interest rate by 25 basis points to 14%, according to the regulator's official statement. This marks the tenth consecutive meeting at which the central bank has eased monetary policy. Over the past two meetings, however, the pace of easing has slowed to 25 basis points, compared with previous reductions of 50 basis points. The central bank said Russia's ec…
The Toronto Star
Russia’s central bank gingerly cuts rates, caught between business complaints and inflation
FRANKFURT, Germany (AP) — Russia's central bank made a smaller than usual interest rate cut on Friday, a compromise move to support stagnating economic growth even as inflation fueled by
Associated Press News
Russia's central bank gingerly cuts rates, caught between business complaints and inflation
Russia’s central bank made a smaller than usual interest rate cut on Friday, a compromise move to support stagnating economic growth even as inflation fueled by war spending remains higher than the bank’s target.
Russians will soon feel the impact of long-range sanctions. Russian Central Bank Governor Elvira Nabiullina acknowledged that the country's fuel crisis has already begun to impact inflation. According to her, the rise in fuel prices is spreading to the cost of goods and services. This was reported by RBC-Ukraine, citing a publication by Meduza. The admission was made officially. Russian Central Bank Governor Elvira Nabiullina stated that the sit…
Coverage Details
Bias Distribution
- 38% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
