Russia's central bank made its fifth consecutive rate cut this year, lowering the benchmark rate by 50 basis points to 16% annually. The move signals an extended easing cycle aimed at cooling persistent inflation pressures. Based on the bank's current monetary trajectory, inflation is projected to ease into the 4-5% range by 2026—a notable shift from earlier highs. These successive policy adjustments reflect broader efforts to rebalance economic conditions while navigating external headwinds. Market observers are watching how sustained rate cuts might influence cross-border capital flows and emerging market asset demand.