scorecardresearchRussia's central bank slashes rate, saying inflation slows

Russia's central bank slashes rate, saying inflation slows

Updated: 23 Jul 2022, 10:04 AM IST
TL;DR.
The bank lowered its key rate by 1.5 percentage points, to 8 per cent. It said inflation expectations have significantly decreased, reaching spring 2021 levels, while a decline in business activity was slower than expected in June.
Russia's Central Bank deputy chairman Sergei Belov shows a updated version of 100-rubles banknote during the official presentation in Moscow on June 30, 2022. (Photo by Natalia KOLESNIKOVA / AFP)

Russia's Central Bank deputy chairman Sergei Belov shows a updated version of 100-rubles banknote during the official presentation in Moscow on June 30, 2022. (Photo by Natalia KOLESNIKOVA / AFP)