Russian central bank lowers rates to pre-war level
Nabiullina warns tighter oil sanctions could still have serious impact on economy
Russia’s central bank has lowered its policy rate back to the level it stood at before the country’s troops invaded Ukraine, but warned of continuing economic risks.
The Bank of Russia’s monetary policy committee voted to lower the key rate by 150 basis points to 9.5% on June 10. The key rate is now where it was before the central bank raised it by 1,050bp on February 28 in response to western sanctions.
The central bank forecast a faster decrease in inflation than it had in April, saying it
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