通胀压力继续下降 俄罗斯央行意外降息100BP

Core Viewpoint - The Central Bank of Russia unexpectedly lowered the key interest rate by 100 basis points to 20.00%, contrary to market expectations of maintaining it at 21% [1] Group 1: Inflation and Economic Balance - Current inflation pressures, including potential inflation pressures, continue to decline [1] - Domestic demand growth still exceeds the capacity for expansion of goods and services supply, but the Russian economy is gradually returning to a balanced growth trajectory [1] Group 2: Monetary Policy Outlook - The Central Bank aims to maintain monetary tightening to restore inflation to target levels by 2026 [1] - Future decisions regarding the key interest rate will depend on the speed and sustainability of the decline in inflation and inflation expectations [1] - According to the Central Bank's forecast, inflation is expected to return to 4.0% by 2026 and remain at target levels thereafter [1]