The Russian Central Bank maintains the benchmark interest rate at 21% unchanged
Recently, the Central Bank of Russia announced that it will maintain the benchmark interest rate at 21% unchanged. The announcement states that the current inflationary pressure in Russia remains high, and domestic demand growth far exceeds the growth of goods and services supply. At the same time, the cooling of credit activities has become increasingly evident, and residents' savings tendencies have strengthened. The Russian central bank stated that the current tight monetary policy can create necessary prerequisites for the inflation rate to return to the target level by 2026.
