Business · Economy · 15 hrs ago
Russia's central bank ties future rate decisions to inflation
The Bank of Russia says future interest rate decisions will depend on inflation and people’s expectations for how prices will change.
It will also assess risks from conditions inside and outside the country.
The bank’s baseline forecast puts the average key rate at 12.5% to 13.5% in 2027.
A key rate is the central bank’s main policy rate and influences borrowing costs across the economy.
The bank expects annual inflation to return to 4% in 2027 and remain at that target afterward.
Its next rate decisions will depend on how inflation and the risks develop.
The Bank of Russia said future key rate decisions will depend on inflation and inflation expectations.
It will also assess risks from domestic and external conditions.
The Central Bank’s baseline scenario puts the average key rate at 12.5% to 13.5% per year in 2027.
The bank said annual inflation is expected to return to 4.0% in 2027 and remain on target afterward.
- Who
- The Bank of Russia.
- What
- It said future key rate decisions will depend on inflation, inflation expectations and risks from domestic and external conditions.
- When
- October 23, 2026.
- Where
- Moscow, according to the article’s dateline.
- Why
- The bank said decisions would be based on inflation dynamics and expectations, alongside an analysis of domestic and external risks.
This story does not have two clearly opposing sides.
This story does not have a timeline yet.
- Statement date
- October 23, 2026
- Projected average key rate
- 12.5-13.5% per annum in 2027
- Inflation target forecast
- 4.0% in 2027
What people are saying
The Bank of Russia will make further key rate decisions based on the dynamics of inflation and inflation expectations as well as the analysis of risks posed by domestic and external conditions.
The baseline scenario assumes that the key rate will average 12.5-13.5% per annum in 2027.
Given the monetary policy stance, annual inflation will return to 4.0% in 2027 and stay on target further on.