The Central Bank of Russia Continues to Cut Interest Rates

Russia's Central Bank Takes Fifth Step in Interest Rate Cuts

Russia's Central Bank continued its easing cycle in its December 2023 meeting by lowering the policy interest rate to %16. This decrease occurred as expected by the market at 50 basis points.

Inflation Forecasts and Economic Outlook

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

Putin's Assessment

Russian President Vladimir Putin stated that the bank acted responsibly and that such measures would enhance the stability of the country's economy.