The Bank of Russia kept its key interest rate unchanged at 14% on Friday, citing high inflation expectations. Underlying price growth remained at 5-6% annualized, and annual inflation stood at 6.8% as of October 19. The central bank expects annual inflation to reach 7.1-7.6% by the end of 2026 and return to its 4% target in 2027. It said the economy grew at a moderate pace in the second half of 2026, while consumer demand growth slowed but remained elevated.
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