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Russia slowdown deepens; central bank trims growth outlook

Updated 7 times since CLSTR started tracking revisions of this situation.

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2026-07-27 08:12 UTC → 2026-07-27 08:14 UTC · added removed

Russia slowdown deepens; central bank cuts trims growth forecast outlook

In early July 2026 Russia’s economy showed a sharp slowdown, with slumped, highlighted by a 40.5 % drop fall in tractor output and a sharp rise in fuel prices rising sharply, prompting the prices. The Bank of Russia to revise responded by cutting its outlook 2026 GDP‑growth forecast to a 0‑1 % GDP growth range and 6‑7 % lifting the inflation outlook to 6‑7 %, while keeping the key policy rate at 14 %. By late July the The bank reaffirmed those figures, citing a attributed the fuel‑price supply shock from surge to Ukrainian drone attacks in June on a Tyumen refinery, a logistics centre hub in Yekaterinburg and a fuel depot in Rostov‑on‑Don. Rostov‑on‑Don, creating a temporary supply‑side shock. Governor Elvira Nabiullina warned that further strikes could sustain inflationary pressure and suppress domestic demand. On 25 July the central bank tightened its projections further, cutting the 2026 GDP‑growth range to 0‑1 % (down from 0.5‑1.5 %) and reducing again, narrowing the fourth‑quarter growth estimate to 0‑1.5 % year‑on‑year, while raising year‑on‑year and confirming the inflation forecast to 6‑7 % from an earlier 4.5‑5.5 % inflation band. Governor Elvira Nabiullina reiterated that In line with the ongoing attacks have forced temporary reductions in fuel‑production capacity, describing revised outlook, the sharp rise in fuel prices as a supply‑shock, and expects bank reduced the key interest rate by 25 basis points, bringing it to 14 %. Officials expect fuel‑production capacity to be restored gradually restored by year‑end. She warned that any additional strikes could sustain inflationary pressures and depress domestic demand. The policy rate remains at 14 % as authorities monitor year‑end, but the evolving fuel‑price shock. higher fuel prices have raised inflation expectations among households and businesses, complicating efforts to achieve a sustained slowdown.

Versions

  1. 2026-07-27 08:14 UTC Russia slowdown deepens; central bank trims growth outlook
  2. 2026-07-27 08:12 UTC Russia slowdown deepens; central bank cuts growth forecast
  3. 2026-07-27 06:59 UTC Russia slowdown deepens; central bank cuts growth forecast
  4. 2026-07-27 05:43 UTC Russia slowdown deepens; central bank holds revised outlook
  5. 2026-07-27 05:33 UTC Russia slowdown deepens; central bank revises outlook
  6. 2026-07-26 22:18 UTC Russia economic slowdown deepens amid fuel price shock
  7. 2026-07-26 15:23 UTC Russia economic slowdown deepens amid fuel price shock
  8. 2026-07-25 19:24 UTC Russia economic slowdown deepens amid fuel price shock

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