{"id":162817,"date":"2025-06-06T11:32:12","date_gmt":"2025-06-06T11:32:12","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/162817\/"},"modified":"2025-06-06T11:32:12","modified_gmt":"2025-06-06T11:32:12","slug":"russia-cuts-sky-high-interest-rates-for-the-first-time-since-2022","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/162817\/","title":{"rendered":"Russia cuts sky-high interest rates for the first time since 2022"},"content":{"rendered":"<p>A Moscow shopping mall pictured earlier this year. <\/p>\n<p>Anadolu | Anadolu | Getty Images<\/p>\n<p>Russia&#8217;s central bank on Friday cut its sky-high interest rates for the first time since September 2022, in a sign that inflation pressures \u2014 not long ago <a href=\"https:\/\/www.cnbc.com\/2024\/12\/19\/putin-admits-russian-inflation-is-alarming-and-economy-overheating.html\" target=\"_blank\" rel=\"noopener\">described by President Vladimir Putin as &#8220;alarming&#8221;<\/a> \u2014 are beginning to ease.<\/p>\n<p>The Bank of Russia took rates down by 100 basis points to 20%. They had been held at 21% since last October, the highest level since the new benchmark rate was introduced in 2013.<\/p>\n<p>The inflation rate in April was\u00a06.2%, it said, down from an average 8.2% across the first quarter of 2025.<\/p>\n<p>&#8220;While domestic demand growth is\u00a0still outstripping the\u00a0capabilities to\u00a0expand the\u00a0supply of\u00a0goods and\u00a0services, the\u00a0Russian economy is\u00a0gradually returning to\u00a0a\u00a0balanced growth path,&#8221; the central bank said Friday, adding that monetary policy would remain tight &#8220;for a long period&#8221; in order to return inflation to its 4% target.<\/p>\n<p><a class=\"flourish-credit\" href=\"https:\/\/public.flourish.studio\/visualisation\/23625953\/?utm_source=embed&amp;utm_campaign=visualisation\/23625953\" target=\"_top\" style=\"text-decoration:none!important\" rel=\"noopener\"><img decoding=\"async\" alt=\"Made with Flourish\" src=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/04\/made_with_flourish.svg.svg+xml\" style=\"width:105px!important;height:16px!important;border:none!important;margin:0!important;\"\/> <\/a>Stock Chart IconStock chart icon<img decoding=\"async\" src=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/04\/a54b41835a8b60db28c2.svg.svg+xml\" class=\"Collapsible-dismissButton\" alt=\"hide content\"\/><\/p>\n<p>U.S. dollar\/Russian ruble.<\/p>\n","protected":false},"excerpt":{"rendered":"A Moscow shopping mall pictured earlier this year. Anadolu | Anadolu | Getty Images Russia&#8217;s central bank on&hellip;\n","protected":false},"author":2,"featured_media":162818,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3090],"tags":[5464,4959,51,3085,1700,2441,16,15],"class_list":{"0":"post-162817","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-breaking-news-economy","9":"tag-breaking-news-markets","10":"tag-business","11":"tag-business-news","12":"tag-economy","13":"tag-markets","14":"tag-uk","15":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114636203359892046","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/162817","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=162817"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/162817\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/162818"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=162817"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=162817"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=162817"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}