MOSCOW, July 25. /TASS/. The Bank of Russia has cut its key rate for the second consecutive time - by 2 percentage points this time to 18% per annum, saying that inflationary pressures are declining faster than projected while domestic demand growth is slowing.
"Current inflationary pressures, including underlying ones, are declining faster than previously forecast. Domestic demand growth is slowing. The economy continues to return to a balanced growth path. The Bank of Russia will maintain monetary conditions as tight as necessary to return inflation to the target in 2026," the regulator said in a statement.
Further decisions on the key rate will be made depending on the sustainability of the inflation slowdown and the dynamics of inflation expectations, the Central Bank noted.
