Bank of Russia Resumes Easing Cycle With Rate Cut

The Central Bank of Russia has cut its key rate to 10.5% amid debates, moving past oil crashes and inflation pressures. Inflation has halved from 15% to 7.3%, and real rates have shifted from negative to positive. Despite economic challenges like recession and sanctions, the ruble has stabilized. Import data shows a 29% drop, reflecting the ruble's past weakening. The Central Bank aims to prevent the ruble from strengthening too much, which could affect Russia's budget balance.

What was the benchmark interest rate in Russia before the recent cut?

What impact does the ruble's strength have on the Russian economy according to the discussion?