Russia’s central bank held its interest rate at 16%, with the governor indicating a “neutral” stance on future policy direction. The rate-setting board anticipates possible rate cuts in H2 2024. Inflation’s recent slowdown has stalled, remaining nearly double the 4% target, partly due to rising fruit and vegetable prices. Despite facing minimal opposition for a new term nearly two years post-invasion of Ukraine, Putin confronts domestic concerns over inflation, ranked highly among Russian citizens’ fears in a recent poll.