Russia's central bank slashed its benchmark rate by 200 basis points on Friday citing faster than expected fall in inflationary pressures and slowing domestic demand.
The Board of Directors of Bank of Russia reduced the key rate to 18.00 percent from 20.00 percent.
The bank had reduced the rate by 100 basis points in June, which was the first reduction since 2022.
The board said current inflationary pressures are declining faster than previously forecast and domestic demand growth is slowing. Policymakers said the economy continued to return to a balanced growth path.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.