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The Central Bank kept the key rate at 16 percent. – Russia today Posting in CHAT: Russia The Board of Directors of the Bank of Russia decided to maintain the key rate at 16% per annum. The regulator notes that current inflation pressure is gradually weakening, but still remains high. A press release following the meeting was published on the website of the Central Bank of the Russian Federation on Friday, April 26. – Thanks to continued increased domestic demand, exceeding the possibilities of expanding supply, inflation will return to the target value. slightly slower than the Bank of Russia predicted in February. The return of inflation to the target and its further stabilization near 4% implies a longer period of maintaining a tight monetary situation in the economy than previously assumed, the Central Bank said in a statement. According to the Central Bank's forecasts, taking into account the current monetary policy, annual inflation will drop to 4.3-4.8% in 2024 and return to 4% in 2025. The key rate stopped growing in 2024 - the first decision on this was made at a meeting on February 16, 2024. At the next meeting, which took place on March 22, it was also decided not to change it. Prior to this, the key rate was constantly increased five times in a row. Its growth began in July 2023, when the Central Bank raised the rate from 7.5% to 8.5%. Did you notice the error? Select it with the mouse and press Ctrl+Enter. Source link Source link