Bank of Russia Signals Pause in Rate Cuts, Holds Key Rate

The Bank of Russia discussed only a pause in its easing cycle at its September meeting, with no detailed discussion of a rate cut, according to Chair Elvira Nabiullina. This marks a potential shift from prior easing momentum, suggesting a more cautious stance amid inflation or ruble pressures. The pause signals a possible end to the cutting cycle, which could support the ruble and temper inflation expectations.