The Central Bank kept the key rate at 21% per annum

The Central Bank (CB) on Friday, December 20, kept the key rate at 21% per annum. This follows from the data published on the regulator's website.

"The Board of Directors of the Bank of Russia decided to keep the key rate at 21.00% per annum on December 20, 2024. There has been a more significant tightening of monetary conditions than the October decision on the key rate suggested," the statement reads.

The Central Bank also noted that interest rates in a number of segments of the financial market have increased since October. At the same time, the increase in credit and deposit rates has significantly exceeded the level that followed from the October increase in the key rate.

Final record: market expects key growth to 23% in December

Why prices will continue to rise in 2025 and how the Central Bank's policy will affect business

Back in late October, when the rate was raised to 21%, the Central Bank allowed the possibility of further increase in the key rate. Thus, according to the regulator's forecast, annual inflation will fall to 4.5-5% in 2025 and to 4% in 2026.

Later, December 19, Russian President Vladimir Putin during the "Results of the year" expressed hope that the Central Bank of Russia will make a balanced decision on the key rate at the final meeting of the regulator on December 20.