Moscow: The Central Bank of Russia has cut its key interest rate by 200 basis points, citing a faster than expected decline in inflationary pressures and a slowdown in domestic demand. According to Bahrain News Agency, the central bank's Board of Directors announced the reduction of the key rate from 20% to 18%, following a 100 basis point cut last month, which marked the first rate cut since 2022. The Board said inflationary pressures are easing more rapidly than previously forecast, while the growth of domestic demand is decelerating. Policymakers emphasized that the Russian economy continues to return to a path of balanced growth.
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