On Friday, the Central Bank of Russia lowered the key rate to 14.25… (ставка · ключевой · политика)
On Friday, the Central Bank of Russia lowered the key rate to 14.25 percent. At the June 19 meeting, the Bank of Russia decided to reduce the key rate.
Consensus
- The Central Bank of Russia lowered the key interest rate to 14.25% on June 19.
- This was the ninth consecutive rate cut as part of a monetary easing policy.
- The rate was reduced from 14.5% to 14.25%.
- The decision followed a meeting of the CBR's board.
- Inflation risks remain, and the bank noted a more stimulative fiscal policy than expected.
Points of divergence
- The ruble strengthened as a result of the rate cut. — gazeta_spb
- Most analysts expected a 50 basis point cut, but the CBR chose a 25 basis point cut. — fontanka
- The CBR's president, Elvira Nabiyullina, stated that the current step is insufficient for major monetary easing. — gazeta_spb
- The CBR's press release explained that the more cautious approach was due to budgetary policy and inflation risks. — fontanka
- Analysts had predicted the rate cut based on declining inflation, a stronger ruble, and geopolitical factors. — gazeta_spb
- The CBR noted that economic activity has improved since Q1 2026, with rising consumer demand and credit growth. — fontanka
Coverage (2 sources)
- On Friday at the Central Bank meeting the key rate was reduced to 14.25% - St. Petersburg Newspaper - News from St. Petersburg — Gazeta.SPb
- Central Bank Lowers Key Rate for the Ninth Consecutive Time — Фонтанка