Russia's central bank slashed its benchmark rate by 200 basis points on Friday citing faster than expected fall in inflationary pressures and slowing domestic demand.
The Board of Directors of Bank of Russia reduced the key rate 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.
The board said current inflationary pressures are declining faster than previously forecast and domestic demand growth is slowing. Policymakers said the economy continued to return to a balanced growth path.
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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.