Russia's Central Bank holds rates steady as inflation pressures mount
The Russian Central Bank kept its key rate at 14% on September 11, the first time it has foregone a cut since mid-June 2025, citing heightened inflation risks driven by fuel shortages and Ukrainian drone strikes on oil refineries. Annual inflation reached 6.3% as of September 7, with the regulator maintaining its full-year forecast of 6% to 7% and expecting price growth to fall toward 4% next year.

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