The symbolic interest rate cut - which provides marginal relief for Russian businesses and households - was not a given among analysts. Only 5 out of 11 economists surveyed in a Bloomberg poll predicted the decision.
"Given the direct and second-round effects of the temporary decline in production capacity in some sectors and a more expansionary fiscal policy three years ahead than forecast in April, a more gradual reduction in the policy rate is required," the central bank wrote in a statement.
This summer's sharp price increases and higher inflation expectations in Russia are described by the central bank as being caused by one-off factors.
