Analysts: the Bank of Russia is likely to keep the key rate at 14%

On October 23, an important meeting of the Board of Directors of the Central Bank will be held. Most leading economists are confident that the regulator will leave the key rate unchanged at the current level of 14%.

Analysts almost unanimously agree that stable inflation risks and high price expectations of the population do not allow the regulator to continue easing monetary policy. Although some experts believe that the economy already needs softer conditions due to supply-side problems, the prevailing view is that a forced pause is necessary. Inflation remains high and consumer demand is not cooling.

Further steps of the Central Bank will directly depend on the parameters of the budget and the dynamics of inflation expectations. The resumption of the rate cut is possible no earlier than December or early 2027. According to experts, this is necessary to prevent the consolidation of inflation at a high level.