The Bank of Russia board left the key rate at 14 per cent on 11 September. It said current price pressures have increased significantly in recent months, with underlying price growth at 5 per cent to 6 per cent in annualised terms. Annual inflation stood at 6.3 per cent on 7 September. The baseline scenario keeps 2026 inflation at 6.0 per cent to 7.0 per cent and 2027 at 4.0 per cent.
The Bank of Russia kept the key rate at 14 per cent on 11 September. The Moscow Times placed the same decision on Friday and wrote that the key interest rate was left at 14 per cent. The board said current price pressures have increased significantly in recent months. Annual inflation stood at 6.3 per cent on 7 September.[1], [2]
The bank estimated underlying price growth at 5 per cent to 6 per cent in annualised terms. In July, seasonally adjusted current price growth reached 11.6 per cent in annualised terms against a second-quarter average of 5.3 per cent, and the comparable core measure rose from 4.6 per cent to 7.0 per cent. The bank attributed much of that shift to motor fuel, fruit and vegetables. The summary of the rate discussion follows on 23 September and the next meeting is on 23 October.[1]
Annual inflation stood at 6.3 per cent on 7 September. Under the Bank of Russia baseline scenario, given the policy stance, annual inflation comes in at 6.0 per cent to 7.0 per cent in 2026 and at 4.0 per cent in 2027. The Moscow Times also carried the 6.3 per cent annual reading on 7 September and the 6 per cent to 7 per cent range for 2026, and wrote that policymakers still expect price growth to fall toward the 4 per cent target in 2027.[1], [2]
