Will the Bank of Russia make no change to the key rate after the April Meeting?

“Given high inflation and geopolitical pressures, the Bank of Russia is likely to hold rates steady to avoid further economic disruption.”

“Central banks often adjust rates in response to economic conditions. Given the time elapsed since my last update, it's likely that economic factors have changed, prompting a rate adjustment by the Bank of Russia.”

“The Bank of Russia has held rates at elevated levels (21%) since late 2024. With inflation still above target but showing signs of stabilizing, the CBR is likely to hold rates steady in April 2026, continuing its cautious approach before cutting.”