Central Bank Reveals Maximum Interest Rate for 2026

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Return of inflation to target will entail certain monetary policy tightness. On Friday, the Bank of Russia made a decision on the current key rate (16.5%) and disclosed its planned level for the next year.

"In the baseline scenario, this implies an average key rate in the range of 13-15% per annum in 2026 and means a prolonged period of tight monetary policy," the regulator stated in its press release.

The Central Bank also announced its forecast for annual inflation in 2026, which is expected to decrease by 4-5%.

Inflation will reach its target (4%) in the second half of next year.

In subsequent years, the Central Bank notes, annual inflation will remain at the target level.