Translation. Region: Russian Federation –
Source: People's Republic of China in Russian – People's Republic of China in Russian –
An important disclaimer is at the bottom of this article.
Source: People's Republic of China – State Council News
Moscow, October 24 /Xinhua/ — The Central Bank of Russia (CB) lowered its key interest rate from 17 to 16.5 percent per annum. This is the fourth consecutive reduction. The CB also downgraded its inflation forecast for Russia for 2026.
"On October 24, 2025, the Bank of Russia Board of Directors decided to lower the key rate by 50 basis points to 16.5 percent per annum. Sustainable price growth indicators have not changed significantly and remain above 4 percent on an annualized basis. The economy continues to return to a balanced growth trajectory. Lending has accelerated in recent months. Inflation expectations remain high," the Central Bank of Russia said in a statement.
This is the fourth consecutive key rate cut. However, the regulator has given a relatively tough signal.
"The Bank of Russia will maintain monetary conditions tight enough to return inflation to its target. In the baseline scenario, this includes an average key rate in the range of 13-15 percent per annum in 2026 and a prolonged period of tight monetary policy," the press release states.
The Central Bank of Russia also downgraded its inflation forecast. The regulator predicts that inflation will slow to 4-5 percent in 2026, although it had previously forecast price growth of no more than 4 percent.
Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.