 The Bank of Russia has reduced its key rate by 50 basis points, citing easing underlying price pressures and a gradual return of the economy to balanced growth, while noting that inflation trends and external and fiscal uncertainties remain.
The Board of Directors of the Bank of Russia on 24 April 2026 decided to cut the key rate by 50 basis points to 14.50% per annum, citing easing underlying price pressures and the economy’s gradual return to a balanced growth path.
However, measures of underlying price growth have not yet decreased and remain in the range of 4–5% in annualised terms, as estimated by the Bank of Russia. There is still significant uncertainty regarding the external environment and fiscal policy parameters.
Bank of Russia’s benchmark interest rate is applied in calculating interest deductions and interest on overdue tax liabilities.
This announcement was made on 24 April 2026.
Earlier, the Board of Directors of the Bank of Russia on 19 December 2025 decided to cut the key rate by 50 basis points to 16.00% per annum, citing easing underlying price pressures and the economy’s gradual return to a balanced growth path.
