Nabiullina Urges Caution After First Russian Rate Cut Since 2022

Russia’s central bank chief struck a circumspect tone on the path of monetary policy after lowering interest rates for the first time in nearly three years.

“Our approach to more rate cuts demands great caution,” Governor Elvira Nabiullina told a Moscow briefing on Friday. “It may need pauses between steps. Moreover, a key rate increase can’t be ruled out if inflation stops slowing consistently or starts to accelerate.”