The Bank of Russia lowered the key rate to 9.5% per annum.

 The Bank of Russia lowered the key rate to 9.5% per annum. 

  Reasons for the decline: 

1. Price growth in May - completely stabilized. 

2. As of May 31, 2022, the decline in economic activity has halted. 

3. Monetary conditions softened in some sectors of the economy, but generally remained tight. 

4. Fiscal policy becomes stimulating. 

According to the forecast, the key rate this year will be 9-12% per annum. 

Source: TASS, Central Bank of Russia.