Bank of Russia raised key rate to 19% per annum
On September 13, 2024, the Board of Directors of the Bank of Russia decided to raise the key rate from 18% to 19% per annum. The Central Bank's press release notes that the decision was caused by high inflationary pressure, and annual inflation will likely exceed the July forecast range of 6.5-7%.
The Bank of Russia allows raising the key rate at the next meeting. According to its forecast, annual inflation will decrease to 4-4.5% in 2025 and remain close to 4%.
Author: Roman Yakimchuk
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