MOSCOW: The Board of Directors of the Bank of Russia will convene on Friday to decide on the key rate, with 18 out of 19 experts telling TAS...
MOSCOW: The Board of Directors of the Bank of Russia will convene on Friday to decide on the key rate, with 18 out of 19 experts telling TASS they expect the benchmark interest rate to remain at 14%.
The acceleration of persistent inflation components, fuel deficit pressures, the ruble weakening and unpredictability around budget parameters have limited the scope for additional monetary easing, analysts say.
At the previous meeting in July, the CBR cut the key rate for the fifth consecutive time this year, lowering it by 0.25 percentage points to 14%. The regulator said that the accelerated price growth during the summer months was largely attributable to one-off factors, while underlying inflation indicators remained within an annualized range of 4-5%. At the same time, the Bank of Russia raised its 2026 inflation forecast to 6-7% as it highlighted the need for a more gradual monetary easing path.
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