Russian Bank: Fixing Iran's Crisis to Cut Inflation

The Chairwoman of the Russian Central Bank, Elvira Nabiullina, confirmed that the Iran crisis and tensions in the Strait of Hormuz pose risks to the Russian economy due to global inflation. She indicated that these risks are expected to diminish once the conflict ends. The bank announced a quarter-point cut in the main interest rate to 14.25%, amid steady economic growth and a slight decline in inflation to the range of 4% to 5% annually, with a continuous assessment of the effectiveness of the interest rate reduction policy considering internal and external risks.

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