US EditionRussia’s central bank speeds up rate cuts as war economy cools
RUSSIA, JUL 25 – Inflation eased to 4.8% in Q2 as the Central Bank reduced the key rate to 18% to support borrowing amid slowing economic growth, policymakers said.
- Russia's central bank lowered its key interest rate from 20% to 18% to avert a recession, despite inflation being more than double its target.
- Russia's economy defied expectations by growing in 2023 and 2024, but officials worry the current model is insufficient for sustained growth.
- While inflation has declined faster than expected, the Russian economy faces turbulence due to concerns over state bailouts for firms and further sanctions on energy exports.
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Along with the sharp interest rate cut, the central bank also lowered its inflation forecast to between 6% and 7% from 7% and 8%.
Inflation in Russia is declining, which leads the central bank to react. From now on, lower key interest rates will apply.
Bank of Russia cuts policy rate 200 basis points as inflation eases faster than expected
The Russian Central Bank decided Friday to lower its key interest rate by 200 basis points to 18%, as it stated that the inflationary pressures are declining faster than estimated.
·Ankara, Türkiye
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Russian central bank slashes key rate by 200 bps in biggest cut since May 2022
The Russian central bank cut its key interest rate by 200 basis points to 18% on Friday, as expected, hoping to revive lending and boost economic growth after data showed inflation was slowing down.
·United Kingdom
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Total News Sources35
Leaning Left6Leaning Right4Center11Last UpdatedBias Distribution52% Center
Bias Distribution
- 52% of the sources are Center
52% Center
L 29%
C 52%
R 19%
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