The Central Bank of the Russian Federation has reduced the key rate to 17%

Previously, it was 18%. The Central Bank noted that it will maintain tight monetary conditions to return inflation to the target in 2026. The Central Bank will make further decisions on the key rate depending on the sustainability of the slowdown in inflation and the dynamics of inflation expectations.

The Bank of Russia's Board of Directors has reduced the base key rate to 17%. The regulator noted that it will maintain the tightness of monetary conditions necessary to return inflation to the target in 2026. The Central Bank will make further decisions on the key rate depending on the sustainability of the slowdown in inflation and the dynamics of inflation expectations.

In June 2025, the Bank of Russia lowered the key rate for the first time since almost September 2022. It was reduced to 20% per annum from a record level of 21%, where it had been since the end of October 2024. Then the rate was reduced by 2% - to 18% per annum.