Russia's Central Bank Holds Key Rate at 14%
The Russian Central Bank for the second consecutive time did not change the key rate. The Bank of Russia kept the key rate at 14%, meeting analysts' expectations.
Consensus
- The Central Bank of Russia kept the key interest rate at 14%.
- The decision to maintain the rate was in line with market expectations.
- The Central Bank stated that inflationary pressures remain elevated and that inflation is expected to return to 4% by 2027.
- The Central Bank indicated that future decisions on the key rate will depend on inflation dynamics and inflation expectations.
- The Central Bank maintained a neutral signal regarding future monetary policy direction.
Points of divergence
- The Central Bank of Russia previously reduced the key rate ten times in a row before this decision, and had last changed it on 24 July, when it lowered the rate from 14.25% despite market expectations to keep it unchanged. — tg_bbcrussian
- The Central Bank began lowering the key rate in June 2025, when it was at 21%. — tg_bbcrussian
Coverage (3 sources)
- Central Bank for the second time in a row did not change the key rate — The Bell
- Ruble did not change against yuan after Central Bank decision to keep key rate at 14% — Интерфакс
- Russian Central Bank for the second consecutive time did not change the key rate — BBC News Русская служба