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bne IntelliNews · Central Europe · Bank of Russia trims to 14.25%, a deliberately small cut after Putin pushed for more
Stresses the political backdrop: Putin made a rare public call for a decisive cut hours before the decision, and the board still went small, with the finance ministry bracing for up to $55bn of military overspend in 2026.
“President Vladimir Putin made a rare call for the regulator to make a decisive rate cut on June 19, the central bank cut by just 25 basis points.”