The Russian Central Bank cut its key interest rate for the sixth consecutive time by 0.5 percentage points to 15.5 percent annually on Friday.
“The Bank of Russia Board of Directors decided to cut the key rate by 50 basis points to 15.50 percent per annum,” the bank said in a statement, adding that it will assess the appropriateness of further lowering the key rate at its upcoming meetings.
The bank also eased monetary conditions, while noting that monetary conditions remain tight, it said in the statement.
“The baseline scenario envisages that the average key rate will stand at 13.5 to 14.5 percent per annum in 2026,” the bank said. Enditem
Source: Xinhua
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