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Bank of Russia Cuts Rate Amid Inflation Concerns

2/14/2026

48 11 Full Breakdown

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Nabiullina Cuts Rates

Bank of Russia cut its key rate by 50 basis points to 15.5% on February 13 to support the wartime economy.
Bank of Russia Governor Elvira Nabiullina said further cuts depend on inflation trends.
The bank raised its 2026 inflation forecast to 4.5–5.5% after a value-added tax hike.
Preliminary data suggest inflation may slow due to oil price risks.
The Bank will reassess the rate on March 20.

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Russia's Rising Debt

Russia's external state debt reached $61.97 billion as of February 1, 2026, the highest in 20 years.
Total external debt, including banks and companies, is $319.8 billion, up 10.4% from the previous year.
The government plans to borrow 3.98 trillion rubles in 2026 to expand domestic debt.
Authorities also confiscated about 100 billion rubles in a nationwide asset seizure.

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Nabiullina Cuts Rates

Bank of Russia cut its key rate by 50 basis points to 15.5% on February 13 to support the wartime economy.
Bank of Russia Governor Elvira Nabiullina said further cuts depend on inflation trends.
The bank raised its 2026 inflation forecast to 4.5–5.5% after a value-added tax hike.
Preliminary data suggest inflation may slow due to oil price risks.
The Bank will reassess the rate on March 20.

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