Russian Central Bank Holds Key Rate At Two-decade High

If the pro-inflationary risks that we are noticing materialise, we may need to raise the rate,

she told reporters

Vladimir Putinpresident

We have to act very carefully,

Putin said

Current inflationary pressures have eased but remain high,

the central bank said in a statement announcing the decision to leave rates unchanged

The Bank of Russia estimates that the achieved tightness of monetary conditions creates the necessary prerequisites for returning inflation to the target in 2026,

the regulator said in a statement

The current price growth in February and early March was partly constrained by a stronger rouble since the beginning of the year,

the central bank said,

If disinflation dynamics do not ensure achieving the inflation target, the Bank of Russia will consider raising the key rate,

it added