MOSCOW, April 2. /TASS/. The Bank of Russia must act to ensure that inflation returns to its target level in 2026, regardless of how the situation unfolds, according to the summary of the key rate discussion held at the March 21 meeting.
"The Bank of Russia must act to ensure that inflation returns to its target level in 2026 under any scenario. Therefore, in making monetary policy decisions, the Bank of Russia relies on stable economic trends, long-term factors, and adheres to a conservative approach in assessing the balance of inflationary risks over the forecast horizon. <…> The Bank of Russia’s February baseline scenario remains relevant and envisions a prolonged period of tight monetary conditions to achieve the inflation target," the statement said.
On March 21, 2025, the Board of Directors of the Bank of Russia maintained the key interest rate at 21% per annum. According to the regulator’s assessment, the current level of monetary tightening creates the necessary conditions for inflation to return to its target in 2026.
The Central Bank will continue to assess the pace and sustainability of inflation and inflation expectations declining. Should the disinflationary trend prove insufficient to meet the target, the regulator will consider raising the key rate.