By Paul Hannon
Russia's central bank Friday cut its key interest rate for a seventh straight meeting, despite a surge in oil prices following the U.S.-Israel attack on Iran that promises to boost an economy that had been faltering.
The Bank of Russia lowered borrowing costs to 15% from 15.5%, down from a 2025 peak of 21%.
In a statement, the central bank said it may reduce borrowing costs further as the economy approaches "a balanced growth path."
"The Bank of Russia will assess the need for a further key rate cut at its upcoming meetings depending on the sustainability of the inflation slowdown," the statement said.
Write to Paul Hannon at paul.hannon@wsj.com
(END) Dow Jones Newswires
03-20-26 0656ET
