On April 26, 2024, the Board of Directors of the Bank of Russia decided to maintain the key rate at 16.00% per annum. As Irkutsk Today reported, the key rate was raised to 16% on December 15, 2023. On February 16, 2024, the Board of Directors decided to keep it this way; today it has not changed it again.
As the press service of the Central Bank of the Russian Federation reported, inflationary pressure is gradually weakening, but remains high.
Due to the continued increased domestic demand, which exceeds the possibilities for expanding supply, inflation will return to the target somewhat more slowly than the Bank of Russia predicted in February.
The Bank forecasts annual inflation to fall to 4.3–4.8% in 2024 and return to 4% in 2025.
“Irkutsk Today”
