Russia's central bank decided for another sharp interest rate reduction on Friday as policymakers shifted its priority to supporting economic growth after the ruble strength lowered inflation.
The Board of Directors of Bank of Russia decided to cut the benchmark rate by 150 basis points to 9.50 percent, taking it back to the level seen before the war with Ukraine began.
After Russia invaded Ukraine in late February, the central bank hiked its interest rate sharply to 20.00 percent from 9.50 percent. Later, the bank slashed the rate by cumulative 1050 basis points.
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Forex News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.