Russia's central bank unexpectedly reduced its key interest rate for the fourth policy session in a row, citing high inflation expectations and lackluster growth, and signaled that monetary policy will remain tight for an extended period of time.
The Board of Directors, led by Governor Elvira Nabiullina, decided to cut the key rate by 50 basis points to 16.50 percent, the Bank of Russia said in a statement on Friday. Economists had expected the bank to retain interest rates this month after rate cuts in the previous few sessions.
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April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.