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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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.