Inflation expectations among households and businesses stayed high during March and April. Nominal interest rates experienced uneven changes in this period.
The corporate and retail credit activity was weak, leading to slower annual growth of monetary aggregates. Bank lending conditions remained tight throughout these months.
Further information can be found in the information and analytical commentary titled “Monetary Conditions and Monetary Policy Transmission Mechanism.”
The Bank of Canada announced it will keep its key interest rate steady at 2.25 percent amid ongoing global uncertainties including conflict-driven energy price increases and U.S.-related trade issues. The central bank cited weak domestic economic activity but signaled readiness to respond if conditions change.
The Bank of Russia reported an improvement in economic activity for April and May compared to earlier months. Consumer demand expanded amid rapid income growth while inflation slowed due largely to temporary factors. Tight monetary policy is expected to continue supporting inflation stabilization.
The Bank of Russia announced new laws taking effect in 2027 requiring banks and telecom operators to reimburse customers affected by cyberfraud involving online banking applications. The legislation sets limits on payment card ownership and outlines procedures for handling fraud-related data.
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