The Central Bank announced the need for pauses in the work on reducing the key rate

The Central Bank of Russia may need to pause in its work on reducing the key rate, according to a summary of the discussion on this topic on September 24.

"The participants were unanimous in choosing a signal: it is necessary to maintain a neutral signal, since pro-inflationary risks prevail over the forecast horizon. The Bank of Russia may need to pause in reducing the key rate," the document says on the regulator's website.

It is planned that in the future decisions on the key rate will be made depending on the sustainability of the slowdown in inflation and the dynamics of inflation expectations.

"A cautious approach is required in easing monetary policy... The Bank of Russia will maintain such tight monetary conditions as are necessary to return inflation to its target in 2026," the press service of the Central Bank of the Russian Federation said.

"We are budgeting for 2026 at the key level of 12-13%"

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On September 12, the Central Bank of the Russian Federation lowered its key rate to 17% per annum. According to the regulator's forecast, in 2025, taking into account the current monetary policy, annual inflation will decrease to 6.0-7.0%, and in 2026 it will return to the target level of 4.0%.

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