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Russia's Central Bank Cuts Key Rate After Economy Contracts

Provided by Dow Jones Jun 19, 2026, 10:55:00 AM

By Paul Hannon

Russia's central bank cut its key interest rate for a ninth straight meeting, and said further reductions are possible following an economic contraction it sees as temporary.

The Bank of Russia lowered borrowing costs to 14.25% from 14.5%, down from a 2025 peak of 21%.

In a statement, the central bank said it might reduce borrowing costs further, although it warned that they might not fall as rapidly as previously expected over coming years due to higher government spending.

"Fiscal policy over the three-year horizon will be more accommodative than previously expected," the central bank said Friday. "This may require a higher key rate path than assumed in the April baseline scenario."

Write to Paul Hannon at paul.hannon@wsj.com

(END) Dow Jones Newswires

June 19, 2026 06:55 ET (10:55 GMT)

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