Russian Central Bank Cuts Interest Rate to 15% — Seventh Cut Since June 2025

The Bank of Russia cut its key interest rate from 15.5% to 15% on March 20, 2026 — the seventh consecutive cut since June 2025, when the rate peaked at 21%. The decision reflects slowing Russian inflation (to approximately 5.9%) and a cooling wartime economy as oil export revenues come under sustained pressure from Ukrainian drone strikes on Baltic ports, Western tanker seizures, and the ongoing G7 price cap. The EU simultaneously extended restrictive measures against ~2,600 individuals and entities responsible for undermining Ukraine's territorial integrity for another six months, until September 15, 2026.