Russia's central bank reduced its benchmark rate for the eighth consecutive time to contain rising inflation.
The Board of Directors of the Bank of Russia decided to cut its interest rate by 50 basis points to 14.50 percent.
The bank said it will assess the need for further key rate cuts at its upcoming meetings depending on sustainability of inflation slowdown and dynamics of inflation expectations.
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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.