Bank of Russia cuts the key rate by 50 bp to 15.00% p.a.

On 20 March 2026, the Bank of Russia Board of Directors decided to cut the key rate by 50 basis points to 15.00% per annum. The economy is approaching a balanced growth path. In February, price growth predictably decelerated after a temporary acceleration in January. The Bank of Russia estimates that the underlying measures of current price growth remain in the range of 4–5% in annualised terms. However, uncertainty regarding the external environment has increased considerably.

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