Central Bank Keeps Rate at 14%
The Central Bank of the Russian Federation kept the key rate at 14% per annum. The Board of Directors of the Bank of Russia left the key rate unchanged at 14% per annum during today's meeting, according to the regulator's statement.
Consensus
- The Central Bank of Russia kept the key interest rate unchanged at 14%.
- The decision was made during a meeting of the Board of Directors on October 23.
- The Bank will base future rate decisions on inflation dynamics, inflation expectations, and internal and external risks.
- The baseline scenario projects an average key rate of 12.5–13.5% in 2027.
- Inflation is expected to return to 4% in 2027.
- The decision was in line with analysts' expectations.
Points of divergence
- The Central Bank previously reduced the rate ten times from June 2025 to July 2026, bringing it from 21% to 14%. — tg_tvrain
- The Bank noted that inflationary pressures remain elevated and inflation expectations are high. — vesti
- The government submitted a draft federal budget for 2027–2029 to the State Duma. — vm
- The Ministry of Finance proposed including passive income such as dividends and interest on deposits in the taxable base for personal income tax. — vm
Coverage (3 sources)
- Central Bank of Russia kept key rate at 14% annual — Дождь (Telegram)
- Central Bank kept key rate at 14 percent — Вести
- Central Bank kept key rate at 14 percent annual — Вечерняя Москва