Russia's central bank has cut its benchmark interest rate from 21% to 20%, according to an announcement on its official website.
The regulator noted that inflationary pressures, including persistent components, are easing. "While consumer demand continues to exceed production capacity, the economy is slowly moving toward balanced growth," the Bank of Russia stated.
Officials emphasized their commitment to restrictive monetary policies to achieve the 4% inflation target by 2026.
This marks the first rate cut since September 2022, when the rate was reduced from 8% to 7.5%. Subsequent adjustments were all increases, peaking at 21% in October 2024—the highest level in Russia's recent history. The rate had remained unchanged at 21% since April 2025, when the central bank held it steady for the fourth consecutive meeting.