India, March 21 -- The Bank of Russia retained its interest rate at a record high as inflationary pressures remained high.
The board of directors, governed by Elvira Nabiullina, left the key interest rate unchanged at a record 21.00 percent.
The central bank has raised the key interest rate by 1,350 basis points since July 2023.
The board noted that current inflationary pressures decreased but remained high, especially underlying ones. The bank said it will continue to assess the speed and sustainability of the decline in inflation and inflation expectations.
"If disinflation dynamics do not ensure achieving the inflation target, the Bank of Russia will consider raising the key rate," the bank said.
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