Moscow: The Moscow Stock Exchange index experienced an increase in trading on Tuesday, following statements by Elvira Nabiullina, the Governor of the Central Bank of Russia, regarding the anticipated direction of the country's interest rate cut.
According to Yemen News Agency, the ruble-denominated IMOEX index saw a rise of 0.77%, reaching 2,495.67 points, while the dollar-denominated RTS index increased by 0.85%, ending at 995.66 points. The boost in the indices came after Nabiullina's remarks during a joint meeting of the State Duma committees. The meeting focused on reviewing the primary directions of monetary policy for the years 2026 to 2028, where Nabiullina indicated that the trajectory of the key interest rate cut would persist throughout the next year.
The Central Bank's governor highlighted that the bank's decisions are directed towards ending the period of significant price increases promptly, without excessively cooling the economy. The recent decision by the Central Bank of Russia to cut its key interest rate by 0.5%, bringing it down to 16.5% annually, was unexpected, as experts had anticipated the rate to remain unchanged.