The Board of Directors of the Bank of Russia maintained the key rate at 21% per annum. This is stated in the press service of the Central Bank.
The current inflationary pressure has decreased, but remains high, especially in the stable part. The growth of domestic demand continues to significantly outstrip the opportunities for expanding the supply of goods and services. At the same time, credit growth remains subdued, and the savings activity of the population remains high, the regulator emphasizes.
The achieved rigidity of monetary conditions, according to the Central Bank, forms the necessary prerequisites for the return of inflation to the target in 2026.
The regulator believes that achieving the inflation target will require a prolonged period of maintaining tight monetary conditions in the economy.
The Central Bank will continue to analyze the rate and sustainability of the decline in inflation and inflation expectations. If the dynamics of disinflation does not ensure the achievement of the goal, the regulator will consider raising the key rate.
