The Bank of Russia has decided to cut its key rate by 25 basis points to 14% per annum, according to the regulator’s press release following its board meeting. Regulator’s decisionThe Central Bank reduced the key rate by 25 basis points to 14% per annum. The Bank of Russia upgraded its forecast for the average key rate through the end of 2026 from 14-14.5% to 14.5-14.6%. The Central Bank downgraded its forecast for household lending growth in 2027 to 5-10% from the previous range of 8-13%. The Bank of Russia maintained its forecast for mortgage lending growth in Russia in 2026 at 6-10%.