Another Russian Central Bank Rate Cut – Currency Thoughts

Another Russian Central Bank Rate Cut

April 24, 2026

As expected, the Central Bank of Russia cut its key rate by a further 50 basis points to 14.5%. This was the fifth such reduction since October and brings the cumulative drop to 650 basis points since this cycle began in June 2025. At the newly reduced interest rate level, monetary policy remains restrictive when compared to actual consumer price inflation of 5.9% in both February and March. Officials noted that “Proinflationary risks still prevail over disinflationary ones on the mid-term horizon. The key proinflationary risks are associated with a deterioration in the global economic outlook and rising global price pressures amid increased geopolitical tensions, as well as with high inflation expectations and a long period of wage growth outpacing growth in productivity.”

Copyright 2026, Larry Greenberg. All rights reserved.

Tags: Central Bank of Russia

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on Friday, April 24th, 2026 at 7:16 am and is filed under Central Bank Watch.
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