Fact Check: "Central Bank's key interest rate cut from historic high of 21% to 20%!"
What We Know
The claim states that the Central Bank of Russia has cut its key interest rate from a historic high of 21% to 20%. However, according to the Central Bank of Russia's Wikipedia page, the bank raised its primary interest rate to 21% in March 2025, marking the highest level in over two decades. As of October 2023, the Central Bank has not announced any cuts to this rate. In fact, reports indicate that the bank has maintained this rate due to ongoing inflationary pressures and economic instability resulting from the geopolitical situation, particularly the ongoing conflict in Ukraine (Reuters).
Analysis
The claim lacks factual support, as there is no evidence from credible sources that the Central Bank of Russia has reduced its interest rate from 21% to 20%. Instead, the bank has been under pressure to maintain high interest rates to combat inflation, which has remained a significant concern (Reuters). The reliability of the sources used in this analysis is high; both the Wikipedia entry and Reuters are well-established and credible outlets known for their journalistic integrity.
Furthermore, the context surrounding the Central Bank's monetary policy indicates that any potential rate cuts would be unlikely in the near term, given the economic conditions. The bank's decision-making is influenced by various factors, including inflation rates and the overall economic climate, which have not shown signs of improvement sufficient to warrant a rate cut (Morningstar).
Conclusion
Verdict: False
The claim that the Central Bank of Russia cut its key interest rate from 21% to 20% is false. The bank has maintained the 21% rate as of October 2023, and there have been no announcements or credible reports indicating a reduction. The economic context suggests that such a cut is unlikely in the current environment.
