(Il Sole 24 Ore Radiocor) - Milano, 24 apr - The Bank of Russia said that its board of directors decided to cut the key rate by 0.50 percentage points to 14.50%.

The central bank will assess the need for further cuts at its upcoming meetings. The board's next rate meeting is scheduled for June 19.

The Bank of Russia noted that its baseline scenario assumes an average key rate of 14.0-14.5% in 2026 and 8.0-10.0% in 2027.

According to its forecast, annual inflation in Russia will decline to 4.5-5.5% in 2026, with underlying inflation close to 4% in the second half of the year. In 2027 and beyond, annual inflation will stay on target.

While the Russian economy slowed in the first quarter of 2026, the central bank said that this was largely driven by one-off factors and it has retained its 2026 GDP growth forecast of 0.5-1.5%.

"The Bank of Russia will assess the need for further key rate cuts at its upcoming meetings depending on the sustainability of the inflation slowdown, the dynamics of inflation expectations, and the analysis of risks posed by external and.

domestic conditions," the central bank said.

(RADIOCOR) 24-04-26 13:12:53 (0372) 5 NNNN