Central Bank of Russia cut its key rate by another half a percentage point

Russia's Central Bank lowered its benchmark interest rate to 16.5% during its October 24 board meeting.

"On October 24, 2025, the Board of Directors of the Bank of Russia decided to cut the key rate by 50 basis points to 16.50% per annum",

the Central Bank announced.

The key rate had remained at a record high of 21% from October 2024 through June 2025, when the Central Bank implemented its first rate cut in nearly three years, lowering it to 20%. Subsequent reductions included a 2% cut in July and a further 1% decrease in September.