As RBC notes, citing a statement from the Central Bank, the Bank of Russia’s Board of Directors, at its meeting on 23 October, left the key rate unchanged at 14 per cent per annum. The Central Bank had taken the same decision at its September meeting, marking the first step towards easing monetary policy in over a year.
“According to the Bank of Russia’s assessment, sustained price growth is not abating and remains within the range of 5–6 per cent on an annualised basis, primarily due to the impact of a temporary reduction in production capacity in certain sectors. This requires moderate growth in aggregate demand for sustained inflation to resume its downward trend,” RBC quotes the regulator’s press release as saying.
According to its updated medium-term forecast, the regulator expects price growth to be in the range of 6.2–6.3 per cent by the end of 2026 (previously 5.9–6.2 per cent), and 5.2–5.7 per cent in 2027, compared with the previous forecast of 4.3–5.2 per cent.
This story was translated with the assistance of artificial intelligence.The translation was also reviewed by the Logos Press editorial team.
Follow our updates
Have information for the newsroom? Share it with Logos-Press
Comments
0No comments yet. You can start the conversation.
Comments are open to readers with a Logos Press account.
Sign in to comment