Central Bank of Russia cuts benchmark interest rate to boost economy

12 articles · Updated · The New York Times · Apr 24

The central bank reduced its key rate from 15% to 14.5% after President Putin criticized officials over economic underperformance and ordered urgent action.
The move aims to revive growth as Russia’s economy contracted 1.8% in early 2026, with inflation remaining elevated due to war spending and sanctions limiting export revenues.
While higher oil prices have recently provided some relief, the Kremlin’s concern is growing amid persistent uncertainty, ongoing wartime costs, and inflation still above the 4% target.

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