India, April 25 -- The Bank of Russia left its interest rate unchanged as widely expected on Friday, despite high inflationary pressures.
The board of directors, governed by Elvira Nabiullina, maintained the key interest rate at a record high 21.00 percent.
The Russian central bank has raised the key interest rate by 1,350 basis points since July 2023.
"The Bank of Russia will maintain monetary conditions as tight as necessary to return inflation to the target in 2026," the bank said in the policy statement.
The bank suggested that the monetary policy will remain tight for a long period.
According to the baseline scenario, the average key rate is expected to be in the range of 19.5-21.5 percent per annum in 2025 and 13.0-14.0 percent p...