ST. PETERSBURG, June 5. /TASS/. The Bank of Russia’s key interest rate will most likely be closer to 12% by the end of 2026, VTB CEO Andrey Kostin said in an interview with TASS on the sidelines of the St. Petersburg International Economic Forum (SPIEF-2026).
"You see, given the pace at which the Central Bank is currently lowering [the key rate], if one extrapolates that trend through the end of the year, it will most likely be closer to 12% [annually]," Kostin noted. "Provided that no extraordinary events occur in either direction."
According to the Bank of Russia’s medium-term forecast, the key rate in 2026 will average 14-14.5% for the year.
Earlier, State Duma Financial Market Committee Chairman Anatoly Aksakov said in an interview with TASS ahead of the St. Petersburg International Economic Forum that the Bank of Russia could lower the key rate to 10% by the end of 2026.
The 29th St. Petersburg International Economic Forum (SPIEF-2026) is taking place on June 3-6. This year, the event is held under the theme "Pragmatic Dialogue: The Path to a Stable Future." Saudi Arabia is the guest country at SPIEF. The forum program is dedicated to shaping a new model of global development amid the ongoing transformation of the world economy.
