The Russian central bank cut its key interest rate by 200 basis points to 18% on Friday, hoping to revive lending and boost flagging economic growth after stubbornly high inflation showed signs of easing.

The European Central Bank is leaving interest rates unchanged as it waits to see the impact of U.S. President Donald Trump’s tariffs on the economy before deciding whether to cut rates again.

The central bank said it would lower its benchmark rate to 43% from 46%, restarting an easing cycle that had been disrupted by a political furor.