Russia lowers rates of interest to 20% in first minimize since 2022 as inflation pressures ease

Russia’s central financial institution on Friday minimize rates of interest for the primary time since September 2022, in an indication that inflation pressures — now not way back described by way of President Vladimir Putin as “alarming” — are starting to ease.

The Bank of Russia took charges down by way of 100 foundation issues to 20%. They were held at 21% since ultimate October, the very best stage for the reason that new benchmark charge was once offered in 2013.

The inflation charge in April was once 6.2%, it stated, down from a median 8.2% around the first quarter of 2025.

Russia’s full-scale invasion of Ukraine in February 2022 has put immense pressure on costs, with a weaker ruble pushing up import costs, and on an financial system it has needed to re-orient thru next years of struggle.

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