Russia's central bank lowered its key rate by a half-percentage point on Friday, after delivering sharp reductions since April.
The Board of Directors of Bank of Russia decided to reduce the benchmark rate by 50 basis points to 7.50 percent from 8.00 percent.
In case of a further budget deficit expansion, tighter monetary policy may be required to return inflation to target in 2024 and keep it close to 4 percent further on, the bank said in the statement.
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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.