Translation. Region: Russian Federation –
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
Moscow, March 20 /Xinhua/ — The Bank of Russia's Board of Directors on Friday lowered its key rate for the second time in a row since the beginning of the year by 50 basis points, to 15 percent per annum.
"The economy is approaching a balanced growth trajectory. In February, price growth slowed, as expected, after a temporary acceleration in January. According to the Bank of Russia, sustainable price growth rates remain in the range of 4-5 percent on an annualized basis. At the same time, uncertainty regarding external conditions has increased significantly," the Central Bank of Russia's press release explains.
"The Bank of Russia will assess the advisability of further key rate reductions at its upcoming meetings, depending on the sustainability of the inflation slowdown, the dynamics of inflation expectations, and the assessment of risks from external and internal conditions," the regulator stated.
According to the Bank of Russia's forecast, given the current monetary policy, annual inflation will decline to 4.5-5.5 percent in 2026.
"Sustainable inflation will reach around 4 percent in the second half of 2026. In 2027 and beyond, annual inflation will remain on target," the Central Bank of the Russian Federation predicts.
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