On Friday, June 10, the Board of Directors of the Central Bank of the Russian Federation decided to reduce the key rate from 11 to 9.5% per annum. As explained in the Central Bank, the external conditions for the Russian economy are still difficult, but inflation is slowing down faster than expected, and activity is declining on a smaller scale than expected. According to the Ministry of Economic Development, the actions of the Bank of Russia will boost lending and lead to a revival of consumer demand in the country. At the same time, experts do not exclude the possibility of another rate cut in the coming months.