The Central Bank has reduced interest rates once again, marking the second such decrease within twelve months. This latest adjustment brings the rate down from 20% to 18%.

The Central Bank of Russia (CBR) has lowered its benchmark interest rate from 20% to 18%, according to an official announcement.

The regulator noted that inflationary pressures, including persistent price growth, are easing more rapidly than expected, while domestic demand expansion shows signs of slowing.

"Economic conditions are progressively stabilizing toward balanced growth," the central bank stated.

This marks the second key rate cut within a year. Earlier in June, the CBR had reduced the rate from its peak of 21% to 20%.