At the meeting, the Central Bank of Russia decided to raise the key rate to 19% per annum from September 16, 2024 (Information of the Bank of Russia dated September 13, 2024).
Previously, it was set at 18%. The Central Bank of Russia notes that the current inflationary pressure remains high. Therefore, additional tightening of monetary policy is required to resume the disinflation process and reduce inflation expectations. The next Central Bank meeting will be held on October 25, 2024.
