Russia Central Bank Cuts Key Rate for Tenth Straight Meeting

The Central Bank of Russia made another decision to lower its key interest rate on July 24. By a vote of the Board of Directors, the rate was decreased by 25 basis points to 14%. This marks the tenth consecutive meeting where the bank has eased monetary policy.

EADaily previously reported that Elvira Nabiullina's work at the Central Bank of Russia had been praised by a former employee of the Bank of England. The decision to lower the key rate is seen as a sign of continued easing of monetary policy in Russia.