Key rate in Russia will reach 24% — Media
On October 25, 2024, the Central Bank raised the key rate for the third time in a row in a year – from 19% to a record 21%. This is the maximum for 22 years; in 2002, the Bank of Russia refinancing rate was still 21%.
The Central Bank's decision became unexpectedly tough; most financial market participants expected a rate increase to 20%. Economists surveyed by the media allowed the rate to rise further. According to their estimates, the rate could reach 23–24% by the end of 2024.
