#Bank of Russia

Bank of Russia Holds Its Key Rate at 14%: Inflation, Household Credit and the Policy Trade-Off

The Bank of Russia kept its key rate at 14.00% on October 23, 2026, as underlying price pressure and inflation expectations remained elevated despite a moderating economy. The decision illustrates how policy rates work through savings, loans, prices and fiscal choices, and why a pause does not mean borrowing costs are falling.