Russia’s central bank holds key rate at 14%

Russia's central bank maintained its key interest rate at 14% on Friday, according to a statement released on the bank's website. The central bank reported that price growth has accelerated to 5-6% annually, primarily due to a temporary decrease in production capacities in specific industries. Recent months have seen a significant increase in price pressures.

The bank anticipates that annual inflation will reach 6.0-7.0% in 2026, decrease to 4.0% in 2027, and stay at that level thereafter, assuming the current monetary policy remains unchanged. The Bank of Russia noted that the economy is expanding at a moderate pace in the third quarter of 2026. The central bank stated that it will issue further key rate decisions based on inflation trends and expectations, as well as an assessment of risks from both domestic and external factors. This report was produced using artificial intelligence assistance and reviewed by a human editor.