Residents of Nizhny Novgorod were informed of the Central Bank's forecast for the 2026 interest rate.

      05 October 2025 11:01 Economy

      The Bank of Russia is considering the possibility of a phased reduction of the key rate in 2026, provided inflationary pressure eases. This was reported by Ekaterina Bogopolskaya, deputy head of the Volga-Vyatka Main Department of the Central Bank, during the Volga Congress "Golden Age of the Real Estate Market," according to GiperNN.

      According to the regulator's representative, in the case of a favorable macroeconomic situation the average level of the key rate in 2026 could be in the range of 12–13%.

      The Central Bank continues to adhere to the goal of bringing the inflation rate down to 4% by 2026. As part of the fight against its rise, a tight monetary policy was implemented over the past two years. Thus, in the autumn of 2024 the key rate was raised to a historic high of 21% per annum.

      Since June 2025 a gradual reversal began: the rate started to fall and currently stands at 17% per annum.

      As Bogopolskaya noted, inflation slowed to 8.1% year-on-year as of the end of August. This result is seen as a positive signal; however, further steps by the Central Bank will depend on a range of economic factors.

      At the same time she emphasized that banks had reduced interest rates on their products faster and more noticeably than the key rate had been lowered.

      "Not only its level affects lending conditions," the Bank of Russia representative concluded.

      Earlier an economist explained what residents of Nizhny Novgorod can expect after the key rate was lowered.

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