19 Jun 2026 15:36
Current risk picture may limit scope for further rate cuts - Central Bank of Russia governor
MOSCOW. June 19 (Interfax) - The growth of pro-inflationary risks and a more stimulating fiscal policy for the three-year period than expected may limit the scope for rate cuts, Central Bank of Russia Governor Elvira Nabiullina said.
"Pro-inflationary risks for the future have grown noticeably; fiscal policy over the next three years will be more stimulating than was embedded in our baseline forecast. In recent months, lending growth has accelerated significantly. This picture may limit the scope for further rate cuts and required a more cautious step from us," Nabiullina said at a press conference following the meeting of the CBR's board of directors.
