The increase in the indicator is due to the rate of inflation in the country: the Central Bank noted that the rise in prices of goods and services is "significantly higher" than the forecast from July this year. The regulator added that additional budget expenditures this year have "pro-inflationary effects."
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The Bank of Russia also stressed that it may additionally raise the key rate by the end of the year. It is predicted that due to these actions, inflation in the Russian Federation will decrease to 4.5–5% in 2025 and 4% in 2026.
Recall that this week experts stated that they expect the key rate to rise to a historical maximum of 20%. Some experts predicted an increase of up to 21%.
