Russian Central Bank Holds Interest Rate at 14% as Inflation Risks Persist

2026, October 23

Russia

Russia’s central bank kept its key interest rate unchanged at 14%, maintaining a restrictive monetary policy as inflation remained a concern. Policymakers also raised their inflation forecast for 2026, indicating that price pressures continued to complicate efforts to stabilise the economy.

The decision reflected the challenge of balancing persistent inflation against the need to support economic activity. Borrowing costs remained high for households and businesses, while investors watched for signs of when the central bank might begin easing monetary policy.