Russia's central bank cuts rates cautiously amid inflation concerns

A measured rate cut signals Russia's fight against inflation—but will it be enough? Alexey Zabotkin's cautious strategy takes center stage.

, and Administrator

2026 April 25 . 4:10 AM

1 min read

The image shows an old five dollar banknote from the International Banking Corporation of Hong... — The image shows an old five dollar banknote from the International Banking Corporation of Hong Kong. The note features a portrait of a man in a suit and tie, with the words "International Banking Corporation" written in bold lettering above him. The denomination of the note is printed in the bottom right corner.

He has served as First Deputy Governor of the Bank of Russia since June 2020 and as a member of its Board of Directors since April 2022.

Russia's central bank cuts rates cautiously amid inflation concerns

A senior executive at the Bank of Russia, Alexey Zabotkin, was photographed wearing a tie featuring cheerful rats. The image was posted on the regulator's official website in his staff profile.

Zabotkin has previously stated that a sharp cut to the key interest rate would fuel inflation, as cheaper loans boost demand faster than production can expand. The central bank's goal is to bring inflation back to 4%, which is why any rate reductions must be gradual. On April 24, the rate was lowered to 14.5%.