MOSCOW, Oct. 23 (Xinhua) -- The Bank of Russia on Friday kept its key interest rate unchanged at 14 percent, citing high inflation expectations.
Underlying price growth remains in the range of 5-6 percent in annualized terms, while annual inflation stood at 6.8 percent as of Oct. 19, the central bank said in a statement posted on its website.
It expects annual inflation to reach 7.1-7.6 percent by the end of 2026 and return to its 4-percent target in 2027.
The apex bank said Russia's economy was growing at a moderate pace in the second half of 2026, while consumer demand growth was slowing but remained elevated. ■