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Russia Central Bank Cuts Rate to 14.5% as Inflation Eases

4/25/2026

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Summary

Story summary

Russia’s central bank cut the benchmark rate by 50 basis points to 14.5% on April 24, 2026, its eighth consecutive reduction.
Inflation eased to 5.7% in April from 5.9% in March.
The bank projects 4.5-5.5% inflation and a 0.5-1.5% GDP growth for 2026 despite a slowdown from tax changes and lower oil prices.
Governor Elvira Nabiullina warned a prolonged Middle East war could raise global costs and erase export and ruble gains.

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Story summary

Russia’s central bank cut the benchmark rate by 50 basis points to 14.5% on April 24, 2026, its eighth consecutive reduction.
Inflation eased to 5.7% in April from 5.9% in March.
The bank projects 4.5-5.5% inflation and a 0.5-1.5% GDP growth for 2026 despite a slowdown from tax changes and lower oil prices.
Governor Elvira Nabiullina warned a prolonged Middle East war could raise global costs and erase export and ruble gains.