the Bank of Russia has increased the key rate by 200 basic points, to the record level – 21% per annum.
“The Board of Directors of the Bank of Russia on October 25, 2024 decided to increase the key rate by 200 B.P., to 21.00% per annum. Inflation is formed significantly higher than the July forecast of the Bank of Russia. Inflational expectations continue to increase. The growth of domestic demand is significantly ahead The possibilities of expanding the supply of goods and services.
The Central Bank of the Russian Federation noted that further tightening of monetary policy is required in order to ensure the return of inflation to the goal and reduce inflation expectations. “The Bank of Russia admits the possibility of raising the key rate at the next meeting. According to the forecast of the Bank of Russia, taking into account the conducted monetary policy, annual inflation will decrease to 4.5-5.0% in 2025, 4.0% in 2026 and will be located The goals in the future, ”the regulator noted.
The last time the Bank of Russia increased the key rate by 100 basic points -Uda 19 percent September 13th.