Russia's Central Bank Reduces Key Rate to 14 Percent, Warns of Persistent Inflation Risks

The Board of Directors of the Bank of Russia voted at its July 24 meeting to lower the key interest rate by 25 basis points to 14%, according to the regulator's official statement. This marks the tenth consecutive meeting at which the central bank has eased monetary policy. Over the past two meetings, however, the pace of easing has slowed to 25 basis points, compared with previous reductions of 50 basis points. The central bank said Russia's economy expanded at a moderate pace during the second quarter of 2026. "Significant price growth and higher inflation expectations during the summer months were largely driven by one-off factors. Estimates of underlying inflation remain within the range of 4–5% on an annualized basis. Credit growth slowed slightly in June," the regulator said in its statement.

Pravda Pravda · Wire Report · Fri, 24 Jul 2026 16:10:00 · 1 min read

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WIRE — The Board of Directors of the Bank of Russia voted at its July 24 meeting to lower the key interest rate by 25 basis points to 14%, according to the regulator's official statement. This marks the tenth consecutive meeting at which the central bank has eased monetary policy. Over the past two meetings, however, the pace of easing has slowed to 25 basis points, compared with previous reductions of 50 basis points. The central bank said Russia's economy expanded at a moderate pace during the second quarter of 2026. "Significant price growth and higher inflation expectations during the summer months were largely driven by one-off factors. Estimates of underlying inflation remain within the range of 4–5% on an annualized basis. Credit growth slowed slightly in June," the regulator said in its statement.

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