The Bank of Russia kept its key rate at 14% on Friday and raised its 2026 inflation forecast to 7.1%–7.6%. The decision matched what all 20 surveyed analysts expected.
The Bank of Russia held its key interest rate at 14% on Friday, its second consecutive hold in under two months. The pause comes as inflation pressures persist in the economy.
The bank also raised its 2026 inflation forecast to a range of 7.1% to 7.6%, up from a previous projection of 6% to 7%. That range remains above the bank's 4% target, which it still expects to reach in 2027.
The decision matched expectations from all 20 analysts surveyed earlier this week.
Inflation has been driven higher by Ukrainian drone attacks on refineries, government spending and increased utility fees, while the economy has shown minimal growth during this period.
Consumer prices have risen 6.2% since the beginning of 2026, compared with a 4.8% rise over the same timeframe in 2025.
Source: Investing.com
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