On October 25, 2024, the Bank of Russia is anticipated to increase its key interest rate to 20%, matching the level set after the invasion of Ukraine. This move aims to address escalating inflation that has become a pressing issue for policymakers.
Economists surveyed by Bloomberg predict this hike, with only two out of eleven analysts suggesting the rate may remain at 19%. Some analysts have indicated the possibility of an even larger increase, reflecting the urgency of the situation.