With inflation slowing and government and business fears of a recession growing, the central bank has room to cut its key interest rate further.
Bank of Russia policymakers are expected to cut the base rate for the second time in a row at their meeting on Friday, according to a survey of economists. Sixty per cent of respondents expect a cut of 200 basis points to 18 per cent, with one analyst expecting a sharper cut and three forecasting a fall of 100-150 basis points. The rate decision will set the tone for policy in the second half of the year amid the ongoing conflict between Russia and Ukraine. Central bankers are struggling to balance inflation risks with deepening economic weakness.
Olga Belenkaya, an economist at Finam Investment in Moscow, said: "The Russian central bank must respond to a significant slowdown in inflation. Otherwise, rising real interest rates could lead to excessive cooling of the economy and exacerbate financial pressures on companies."
Economists: Russia's economic woes are worsening, and the central bank may increase interest rate cuts
2025-07-25 04:15:42
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