Russia’s central bank cuts key rate for 10th time in a row — to 14%

Russia's central bank cut its key interest rate by twenty-five basis points to fourteen percent—the tenth consecutive reduction. Meduza reports the bank attributed the cut to moderate economic growth, rising inflation expectations, and a slowdown in lending. Yet the move surprised analysts, who'd expected the central bank to hold steady at fourteen point two five percent amid accelerating inflation driven by rising fuel prices. The next rate decision is scheduled for August fifth.

Listen to this story

Hear this and more stories in a personalized audio briefing.

Open The Chonkerton