The Central Bank of Russia Continues to Cut Interest Rates

Russia's Central Bank Takes 5th Step in Interest Rate Cuts

Russia's Central Bank continued its easing cycle in the December 2023 meeting, lowering the policy interest rate to 16%. This decline occurred as expected by the market, with a 50 basis point reduction.

Inflation Forecasts and Economic Outlook

Thus, the central bank's consecutive interest rate cuts reached their fifth meeting. In the bank's decision text, it is forecasted that inflation will fall below 6% by the end of the year.

Putin's Assessment

Russian President Vladimir Putin stated that the bank acted responsibly and that such steps would enhance the stability of the national economy.