{"id":621429,"date":"2026-09-11T13:26:10","date_gmt":"2026-09-11T13:26:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/621429\/"},"modified":"2026-09-11T13:26:10","modified_gmt":"2026-09-11T13:26:10","slug":"russian-central-bank-holds-key-rate-at-14","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/621429\/","title":{"rendered":"Russian Central Bank Holds Key Rate at 14%"},"content":{"rendered":"<p id=\"p-rc_6aadd420c5f8c9be-72\" data-path-to-node=\"1\">Russia\u2019s Central Bank kept its key interest rate at 14% on Friday, saying that rising fuel costs, driven by Ukrainian drone attacks on oil refineries, and\u00a0a \u201ctemporary reduction in production capacities\u201d are making it difficult to tame inflation.<\/p>\n<p id=\"p-rc_6aadd420c5f8c9be-73\" data-path-to-node=\"2\">The Central Bank\u00a0reported that annual inflation hit 6.3% on Sept. 7. Policymakers maintained their full-year inflation forecast at 6% to 7%, and still expect price growth to fall toward the 4% target next year.<\/p>\n<p>\u201cIn recent months, price dynamics have been considerably affected by volatile components, including motor fuel, fruit and vegetables,\u201d the regulator said in a <a href=\"https:\/\/www.cbr.ru\/eng\/press\/pr\/?file=11092026_133000key_e.htm\" title=\"press release\" rel=\"nofollow noopener\" target=\"_blank\">press release<\/a>. \u201cThe rise in motor fuel prices has also affected underlying inflation dynamics.\u201d<\/p>\n<p>\u201cInflation expectations of\u00a0households, businesses and\u00a0financial market participants have changed diversely. Nevertheless, they remain elevated, which may\u00a0impede a\u00a0sustained slowdown in\u00a0inflation,\u201d it added.<\/p>\n<p>The bank last lowered the key rate at its July 24 meeting, bringing it from\u00a014.25% to 14%.<\/p>\n<p>Inflation is a growing concern across the globe as the war in Iran drives up the price of oil, which has again risen above $100 per barrel due to renewed threats in the Strait of Hormuz. Earlier this week, the European Central Bank raised its benchmark rate by a quarter percentage point to 2.5%.<\/p>\n<p>For Russia, sustained Ukrainian attacks against oil refineries and energy infrastructure are compounding the problem. Since the spring,\u00a0drone strikes have halted or scaled back production at facilities that account for large shares of Russia\u2019s gasoline output, leading to major fuel shortages across the country.<\/p>\n<p>Yet at the same time, a long period of high borrowing costs has weighed down economic growth, leaving business leaders pressing for a lower key interest rate to stimulate investment.<\/p>\n<p>GDP growth in Russia is projected at near-stagnant levels of 0% to 1% for this year.<\/p>\n","protected":false},"excerpt":{"rendered":"Russia\u2019s Central Bank kept its key interest rate at 14% on Friday, saying that rising fuel costs, driven&hellip;\n","protected":false},"author":2,"featured_media":621430,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,4505,113,61,60],"class_list":["post-621429","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-central-bank","tag-economy","tag-ie","tag-ireland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/621429","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=621429"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/621429\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/621430"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=621429"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=621429"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=621429"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}