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21.06.2024
BANK OF RUSSIA: THE KEY RATE IS KEPT AT 16 PER CENT

On June 7, 2024, the Bank of Russia decided to keep the key rate at 16% per annum.

The Central Bank of the Russian Federation allows for the possibility of raising the key rate at the next meeting. At the same time, for inflation to return to the target, a significantly longer period of maintaining tight monetary conditions in the economy will be required than previously predicted. According to the Bank of Russia's forecast, annual inflation will return to target in 2025 and will be close to 4% thereafter.

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