The Central Bank of Russia kept its key interest rate at 14 percent on an annual basis this Monday, in the second consecutive meeting in which it decided to hold the rate steady, amid persistent inflationary pressures and slowing economic growth.
The Russian Central Bank said in a press statement that it had raised its inflation forecasts for 2026 to a range between 7.1 percent and 7.6 percent, compared to a previous estimate of between 6 percent and 7 percent, while it expected the average interest rate to reach 12.5 percent to 13.5 percent in 2027.
