MOSCOW, June 19 (Xinhua) -- Russia's central bank on Friday cut its key interest rate by 25 basis points to 14.25 percent, citing easing inflationary pressures and continued moderate economic growth.
In a statement, the bank said the economy continued to expand at a moderate pace after a temporary slowdown at the start of the year. Underlying price growth has eased slightly but remains in an annualized range of 4 percent to 5 percent, it said.
Seasonally adjusted price growth slowed to an annualized 2.1 percent in April and May, down from 8.7 percent in the first quarter of 2026, while annual inflation stood at 5.6 percent as of June 15, according to the bank.
Inflation expectations among households and businesses have declined but remain elevated, the bank said, warning that this could hamper a sustained slowdown in inflation.
The bank said it would consider further rate cuts at upcoming meetings, depending on the sustainability of disinflation, inflation expectations, and risks arising from domestic and external conditions. Its next rate-setting meeting is scheduled for July 24. ■