The Russian Central Bank keeps the key interest rate

The Board of Directors of the Russian Central Bank decided at its meeting on Friday to maintain the key interest rate at its current level of 16% annually, in a decision that was in line with the expectations of markets and experts.

Thus, the Russian Central Bank has kept the key interest rate at its current level of 16% for the third time in a row.

The Russian Central Bank confirmed that the inflation rate will decline to the target level at a slower pace than expected, and that annual inflation in Russia will return to the target level of 4% next year 2025, and at the end of this year the index will be at 4.3% – 4.8%.

The Bank of Russia (the Central Bank) raised its forecast for Russian GDP growth for the year 2024 to 2.5% – 3.5%.%.

The Russian Central Bank also improved its expectations for the price of a barrel of “Brent” in the year 2024 to $85 from $80, and for the next year 2025 it raised it to $80 from $75 per barrel..

(Russia Today)