Central Bank of Russia maintains key rate at 21%

The Board of Directors of the Bank of Russia decided to keep the key rate at 21% per annum during Friday's meeting.

Report informs via Interfax that at the previous meeting on October 25, the Board of Directors of the Bank of Russia decided to raise the key rate by 200 basis points to 21% per annum.

The Bank of Russia had maintained the rate at 16% per annum for four consecutive meetings after its increase on December 25, 2023, by 100 basis points from 15%. After that, the rate was raised to 18% per annum on July 26. In September, the Central Bank of Russia increased the key rate to 19% per annum.