The Bank of Russia lowered its key rate on 24 October 2025, noting ongoing inflationary pressures.
Regfollower Desk
The Bank of Russia announced, on 24 October 2025, that the Board of Directors decided to cut the key interest rate by 50 basis points to 16.50% per annum.
The rate serves as the basis for determining allowable interest deductions and calculating late payment interest on overdue tax liabilities.
The Bank of Russia will maintain monetary conditions as tight as necessary to return inflation to the target. In the baseline scenario, this also implies an average key rate in the range of 13.0 – 15.0% per annum in 2026 and means a long period of tight monetary policy.
Further decisions on the key rate will be made depending on the sustainability of the inflation slowdown and the dynamics of inflation expectations.
