The need to assess how the value-added tax hike at the start of 2026 and a number of other factors have impacted inflation will probably lead the Central Bank of Russia (CBR) to cautiously approach interest rate cuts and move in "small steps" until April, head of the Russian Union of Industrialists and Entrepreneurs (RSPP) Alexander Shokhin said.
The Bank of Russia slashed the key rate by 50 basis points to 16% per annum for the fifth time in a row amid the decline in current price growth rates but highlighted increased inflation expectations.
The Central Bank of Russia expects inflation to return to low figures in 2026, consistent with its 4% target, which will enable it to cut the key rate "to acceptable levels," CBR Deputy Governor Alexei Zabotkin said.
According to the Governor of Russia's Central Bank, Elvira Nabiullina, the Russian economy has recovered relatively quickly despite the difficult 2022.
The Central Bank of Russia continues to cut its key rate. The rate has declined by 3.5 percentage points over the past five months, from 21% to 16.5%.
The Monetary Policy Committee of the National Bank of Kazakhstan has decided to raise the base rate to 18% per annum.
The Bank of Russia has cut the key rate for the third consecutive time, this time by 1%, bringing it down to 17% per annum, the regulator said in a statement. "The board of directors of the Central Bank of Russia has …
The Turkish authorities have decided to lower the key rate from 43% to 40.5%.
VTB CEO Andrey Kostin expects a reduction in Russia's key rate, which currently stands at 18%.
The Central Bank will consider lowering the key rate at its September meeting, with a potential decrease of 1 or 2 percent, according to VTB.
Russia's central bank may be able to cut its key interest rate from 18% this year if inflation slows rapidly, but it does not rule out holding it at that level in order to achieve a sustainable slowdown in price growth, head of the bank's monetary policy department Andrei Gangan said.
The Central Bank of Armenia has decided to leave the refinancing rate, or discount rate, at 6.75% per annum, the regulator said.
Sber expects the Central Bank’s key rate at 16% by the end of this year, the senior vice-president, head of finance block of the bank Taras Skvortsov said.
Russia's Central Bank has cut its key rate for the second consecutive time - by 2 percentage points this time to 18% per annum.
The key rate in Türkiye has been reduced to 43%. This 3% decrease comes amid slowing inflation.
Respondents lowered the forecast for the current year to 19.3%
The Bank of Russia may reduce the key interest rate by 2 percentage points to 18% annually at its meeting on July 25, 2025, Chairman of the State Duma Committee on the Financial Market Anatoly Aksakov said.
The Central Bank of Russia's board of directors will likely consider a key rate cut at the next meeting, if current trends persist and no unforeseen events occur, Russia's Central Bank Governor Elvira Nabiullina said.
The Central Bank of Russia has changed the key rate for the first time this year, reducing it to 20%.
The high key rate of the Bank of Russia is temporary and the current monetary policy will soften next to inflation downward trend, Russian Deputy Prime Minister Alexander Novak said at the Caucasus Investment Forum.
