Russia Keeps Interest Rate Unchanged

India, Oct. 23 -- The Bank of Russia left its benchmark interest rate unchanged for the second straight meeting, on Friday.

The Board of Directors decided to hold the key rate at 14.00 percent, as widely expected.

The bank has reduced the rate by 200 basis points so far this year.

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The board observed that underlying price growth has not yet decreased and remained in the range of 5-6 percent.

Annual inflation hit 6.8 percent as of October 19, the bank said. Inflation is forecast to rise to 7.1-7.6 percent as of the end of 2026.

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Published by HT Digital Content Services with permission from RTT New...