The Bank of Russia decided to leave a key interest rate at 21% per annum.
As explained in the Central Bank, the preservation of the current rate of the rate is due to the fact that inflationary pressure, although it demonstrates a tendency to reduce, still remains at an increased level – including due to stable factors, the correspondent of The Moscow Post reports with reference to the official website of the regulator.
The regulator notes that internal demand in the country is still significantly ahead of the possibilities of the production sector to build the supply of goods and services. At the same time, according to operational statistics, the economy gradually begins to return to a more balanced growth model.
The Central Bank emphasized that it would adhere to a rather rigid monetary policy until it is possible to return inflation to the target level.
The department clarified that this approach involves a long period of preserving the current vector of the financial strategy necessary to achieve an inflationary goal by 2026.
