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The Economic Times
The Economic Times
Business

Russian central bank holds key rate steady ahead of election

Russia's central bank held its benchmark interest rate at 14% on Friday, one week before a parliamentary election the Kremlin will watch closely as a gauge of ‌public anxiety and ⁠fatigue after ⁠4-1/2 years of war in Ukraine.

The $2.6 trillion economy slowed sharply last year and is expected to grow just above zero in 2026, ​weighed down by the high key rate, Western sanctions, Ukrainian strikes on economic targets and a strong rouble.

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