The Bank of Russia's website issued an announcement on October 23 stating that it will continue to maintain the 14% benchmark interest rate. The Bank of Russia lowered the benchmark interest rate ten times in a row from June 6, 2025 to July 24, 2026, from 21% to 14%, and has remained at this level ever since. The announcement stated that Russia's economy grew moderately in the second half of 2026. Currently, price pressure is still high. As of October 19, the annual inflation rate was 6.8%, and it is expected to be in the 7.1%-7.6% range for the whole year. The announcement predicts that considering the monetary and credit policies being implemented, the inflation rate will fall back to 4.0% in 2027, and the average benchmark interest rate in 2027 will be between 12.5% and 13.5%.
Zhitongcaijing · 1d ago
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The Bank of Russia's website issued an announcement on October 23 stating that it will continue to maintain the 14% benchmark interest rate. The Bank of Russia lowered the benchmark interest rate ten times in a row from June 6, 2025 to July 24, 2026, from 21% to 14%, and has remained at this level ever since. The announcement stated that Russia's economy grew moderately in the second half of 2026. Currently, price pressure is still high. As of October 19, the annual inflation rate was 6.8%, and it is expected to be in the 7.1%-7.6% range for the whole year. The announcement predicts that considering the monetary and credit policies being implemented, the inflation rate will fall back to 4.0% in 2027, and the average benchmark interest rate in 2027 will be between 12.5% and 13.5%.
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