Russia’s Central Bank lowered its key interest rate from 14.5% to 14.25% on Friday, marking its ninth consecutive cut since beginning a policy of monetary easing after previously hiking borrowing costs to a two-decade high to curb surging inflation.

At its previous meeting in April, the Bank of Russia cut the key rate for the third consecutive time since the beginning of the year, lowering it by 0.5 percentage points to 14.5%…

The Bank of Russia's board of directors will consider the key rate at its next meeting on June 19