US EditionRussian Central Bank Cuts Interest Rate to 15.5% as Growth Slows
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4 Articles
Despite rising inflation and high war costs, Russia's central bank lowers the key interest rate. This step is intended to support the weakening economy. The bank's "one-time factors" are responsible for the rise in prices.
Russian central bank cuts interest rate to 15.5% as growth slows
MOSCOW, Russia — Russia’s central bank on Friday cut its benchmark interest rate to 15.5 percent from 16 percent as economic growth slows under the impact of the war in Ukraine and Western sanctions. Russia’s economy expanded by just 1 percent last year, a steep drop from growth of around 4 percent recorded in 2023 and 2024. Huge spending on its forces in Ukraine had initially spurred growth and helped Moscow buck predictions of economic collaps…
The Central Bank of Russia has lowered its key rate for the sixth consecutive time, attempting to support the economy, which is slowing due to war financing and sanctions. It reduced the key rate by 0.5% to 15.5%. This was reported by RBC-Ukraine, citing Bloomberg. Most analysts expected the rate to remain unchanged due to high inflation. However, the Central Bank of Russia stated that the January inflation acceleration was due to one-off factor…
The country's economy grew by just one percent last year
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