The Russian central bank lowered its key interest rate for the first time since 2022 as inflation 'pressures' were 'continuing to decline.'

Russia's economy minister Maxim Reshetnikov said on Tuesday that the central bank should ease monetary policy in a timely manner in order to achieve growth of 3%, a target set by President Vladimir Putin.

Russia’s central bank cut its key interest by a full percentage point on Friday to 20 per cent, its first cut since 2022, as Vladimir Putin’s war economy cools. “Domestic demand continues to outstrip the economy’s capacity to expand the supply of goods and services,