The Bank of Russia will revise its key rate forecast at the upcoming July Board meeting, announced Central Bank chief Elvira Nabiullina. She stated that while a specific figure cannot be given yet, more certainty is expected by the next meeting, with potential changes affecting the years 2026-2027.
The Bank of Russia anticipates a GDP increase of 0.5% by the end of the first six months of 2026, according to Central Bank chief Elvira Nabiullina. The economy has already entered positive territory in April, with an estimated growth of 0.3% from January to April.
Elvira Nabiullina, head of the Bank of Russia, stated that the national economy faces no risks of overcooling. She cited increasing business and consumer activity in May and the absence of traditional cooldown markers like low inflation, rising unemployment, and falling real incomes.
Bank of Russia Governor Elvira Nabiullina stated that key rate decisions must be forward-looking due to lags in monetary policy's impact on the economy and prices. She noted declining price growth but acknowledged risks of future inflation acceleration, emphasizing the need for pauses to assess information and policy effects.
Bank of Russia Governor Elvira Nabiullina stated that the scope for further key rate reductions has diminished. The central bank recently cut its key rate to 14.25%.
Central Bank chief Elvira Nabiullina stated that the Bank of Russia estimates the balance of risks has shifted more towards pro-inflationary factors. While Middle East conflict risks have lessened, uncertainty remains regarding global economic implications, potentially affecting Russia via import prices and logistics.
Russia's Foreign Ministry warns NATO countries of a devastating response if Russia is attacked. Meanwhile, reports indicate a US-Israeli strike on a humanitarian aid aircraft in Iran, and attempted Ukrainian drone attacks on Moscow.
The MOEX index fell by 1.3% to 2,409.53 points following the Bank of Russia's decision to cut its key rate by 25 basis points to 14.25%. The ruble strengthened against the yuan, while the US dollar gained and the euro fell against the ruble.
The Bank of Russia has reduced its key interest rate by 25 basis points to 14.25% per annum. The decision comes as economic growth continues at a moderate pace, with underlying price growth edging down, though lending growth has accelerated. The regulator noted that a more accommodative fiscal policy may necessitate a higher key rate path in the future.
An expert believes the Bank of Russia will likely maintain its key interest rate at 14.5% during its upcoming meeting on June 19, citing global macroeconomic and geopolitical factors. While the market anticipates gradual easing, significant rate cuts are deemed improbable.
21 out of 23 experts surveyed by TASS predict the Bank of Russia will lower its key rate to 14% on June 19, citing falling inflation and a strengthening ruble. However, some analysts warn of accelerating monthly inflation and rising expectations.
The Bank of Russia purchased yuan on the domestic market with settlement on June 16, 2026, for 5.3 billion rubles ($73.11 million). Similar purchases were made on June 15.
The Bank of Russia purchased yuan on the domestic market with settlements on June 11, 2026, for 5.3 billion rubles ($73.08 million). This follows a purchase of 5.2 billion rubles ($71.70 million) on June 10.
Bank of Russia bought 1.2 billion rubles worth of yuan on June 3 and 4, 2026, on the Moscow Exchange.
The Bank of Russia announced it purchased yuan on the domestic market for 1.2 billion rubles ($16.3 million) with settlements on June 3, 2026. The central bank also made a similar purchase for 1.2 billion rubles on June 2.
The Bank of Russia has increased the official exchange rates for the US dollar, Euro, and Chinese yuan for June 5, 2026. The dollar rate rose by 95.2 kopecks to 74.2956 rubles, the euro by 1 ruble 14.69 kopecks to 86.2712 rubles, and the yuan by 12.74 kopecks to 10.9536 rubles.
Expert RA CEO Marina Chekurova predicts the Bank of Russia will cut its key rate by 50 basis points on June 19, with further gradual reductions to 12% by December. She noted the economic situation warrants a faster cut but warned external shocks or accommodative fiscal policy could slow easing.
The Bank of Russia purchased 1.2 billion rubles ($16.64 million) worth of yuan on the domestic market with settlements dated May 29, 2026. Similar operations were conducted on May 28.
The Bank of Russia stated in its Financial Stability Review that the national financial sector is highly stable and continues to fund the economy seamlessly. Existing vulnerabilities, such as corporate credit risks and household debt, are noted but not considered critical.
The Bank of Russia's National Payment System Department Director, Alla Bakina, stated that Visa and Mastercard cards should exit the Russian market as they no longer offer their previous functionality. She noted that the share of these cards has fallen to less than 17%, with banks gradually replacing them with alternatives like Mir cards.
Russia's non-cash payments are projected to surpass 90% by the end of 2026 or early 2027, according to Alla Bakina of the Bank of Russia. No significant increase in cash demand has been observed, while non-cash payments already reached 88.9% of retail turnover in Q1 2026.
The Bank of Russia has filed a claim with the General Court of the European Union to challenge an EU regulation that allows for the use of immobilized Russian assets to repay loans to Ukraine. The Bank argues this constitutes an illegal expropriation and violates international law.
An expert notes the European Commission's upgraded GDP forecast for Russia acknowledges its economic resilience but may overstate growth, contrasting it with more realistic Russian assessments.
Euroclear has decided to keep the Bank of Russia's assets frozen, citing that the Russian Central Bank's claim against Euroclear Bank is not recognized under EU law. Euroclear also stated it does not recognize the court's jurisdiction.
