India, Feb. 14 -- The Bank of Russia retained its interest rate at a record high for the second consecutive meeting on Friday and kept the door open for further rate hike as inflationary pressures remain high.
The board of directors, governed by Elvira Nabiullina, maintained the key interest rate at a record 21.00 percent.
The Russian central bank has raised the key interest rate by 1,350 basis points since July 2023.
Policymakers observed that the current inflationary pressures remain high. The bank said it will assess the need for a key rate increase at its upcoming meeting, taking into consideration the speed and sustainability of the inflation slowdown.
"The baseline scenario provides that returning inflation to the target will requ...