OREANDA-NEWS  The Bank of Russia, which interrupted the key rate reduction cycle on September 11, attributed the rejection of a new reduction to a significantly increased increase in price pressure. This is stated in the press release of the regulator.

"Steady price growth accelerated to 5-6 percent year-on—year, primarily due to the impact of temporary reductions in production capacity in certain industries," the Central Bank said, noting that as these effects are exhausted and with a restrained increase in aggregate demand, the decline in sustained inflation will resume.

The Central Bank promised to make new rate decisions based on the dynamics of price growth and inflation expectations, as well as taking into account the assessment of risks from internal and external conditions.

Most experts expected that the "key" would remain at 14 percent per annum, but there were also those who allowed it to decrease to 13.75 percent. In light of current macroeconomic indicators, "a rate cut, if it happens, will be a sign of optimism," analysts of the Telegram channel "Solid Figures" emphasized.