Bank of Russia's Key Interest Rate Expected to Approach 12% by End of 2026
Bank of Russia’s key rate likely to be closer to 12% by year-end — Kostin
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Andrey Kostin, CEO of VTB, predicts that the Bank of Russia's key interest rate may reach approximately 12% by the end of 2026, depending on the current trend of rate reductions. The St. Petersburg International Economic Forum (SPIEF-2026) discusses global economic transformations.
- 01VTB CEO Andrey Kostin forecasts the Bank of Russia's key interest rate to be around 12% by the end of 2026.
- 02The Bank of Russia's medium-term forecast suggests an average key rate of 14-14.5% for 2026.
- 03State Duma Financial Market Committee Chairman Anatoly Aksakov indicated a potential reduction to 10% by the end of 2026.
- 04The St. Petersburg International Economic Forum (SPIEF-2026) is taking place from June 3-6, focusing on a new model of global development.
- 05Saudi Arabia is the guest country at SPIEF, which features various forums including the SME Forum and the Creative Industries Forum.
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During the St. Petersburg International Economic Forum (SPIEF-2026), VTB CEO Andrey Kostin expressed his expectation that the Bank of Russia's key interest rate could approach 12% by the end of 2026. This prediction is based on the current pace of rate reductions by the Central Bank, contingent upon no significant unforeseen events. The Bank of Russia's medium-term outlook indicates that the key rate may average between 14-14.5% for that year. Additionally, Anatoly Aksakov, Chairman of the State Duma Financial Market Committee, mentioned the possibility of lowering the key rate to 10% by the same time frame. The SPIEF-2026, held from June 3-6, addresses themes of global economic transformation and features Saudi Arabia as the guest country. The event includes various forums aimed at fostering discussions on economic stability and development, alongside cultural activities such as the Petersburg Seasons festival.
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Changes in the key interest rate can influence borrowing costs and economic activity in Russia.
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