Russia's Central Bank holds key rate for the first time since mid-2025
The Russian Central Bank's board of directors on Sept. 11 decided to keep the key rate at 14%, the first time the regulator has opted not to cut it since mid-June 2025.
On September 11, the Russian Central Bank's board of directors announced they would maintain the key interest rate at 14%, marking the first time they had decided against cutting it since mid-June 2025. This decision came as Russia faced growing inflation risks due to fuel shortages and price surges resulting from Ukrainian drone strikes.
The central bank stated that Russia's economy is experiencing a moderate growth rate in the third quarter of 2026, with investments recovering to previous years' levels. They anticipate inflation to reach 6-7% in 2026, then decrease to 4% the following year. The central bank has been under pressure from Russian businesses to further reduce the key rate, with some arguing that borrowing costs would remain unreasonably high until the rate falls to between 10% and 12%.
This assessment was made a week before Russia's tightly-controlled legislative elections, which provide insight into public sentiment amid the ongoing war in Ukraine.
Written by urgent.news from Kyiv Independent's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
