Russia's central bank lowered the key interest rate massively for a second policy session in a row on Friday after policymakers assessed that inflationary pressures are declining and the economy is on a return to balanced growth.
The Board of Directors of Bank of Russia, led by Governor Elvira Nabiullina, reduced the key rate by 200 basis points 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.
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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.