economy

April 24, 2026

Bank of Russia lowered interest rates

Russia's economy is slowly returning to a balanced growth path, where demand growth and production growth are approximately aligned, notes BR.

Bank of Russia lowered interest rates

TL;DR

  • Russia's economy is returning to a balanced growth path.
  • Inflation is currently 5.7% and projected to reach 4-5% by late 2026.
  • Economic activity slowed in early 2026 due to tax changes, fewer working days, and weather.
  • Investment activity remains weak, and consumer demand is decreasing.
  • Labor shortages are decreasing, and unemployment is at a historical low.
  • Wage growth continues to outpace labor productivity.
  • The key interest rate is expected to gradually fall to 8-10% in 2027 and 7.5-8% long-term.
  • The next Bank of Russia meeting on interest rates is scheduled for June 19th.

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