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sectoral shock is determined only by the sector’s sales share. The key reason for this challenge is that
Hulten’s theorem provides only a
or decide not to buy them at all even amid a high key rate.
High-frequency indicators show that price pressures have continued to weaken. Specifically,
nearly 70% YoY
between January and February 2026.
27
The output of key import-substitution food products in the Russian Federation statistics.
28
The calculation is
AND KEY RATE
• Monetary policy and key rate. At its meeting on 24 April 2026, the Bank of Russia Board
of Directors cut the key
further key rate cuts, the Bank of Russia
was not committing to cutting the key rate at any specific meeting. Further
Summary of the Key
following the key rate meeting on 13 February 2026, the forecast has
been changed as follows.
Key rate. The range of the average key rate
109
18.05.2026
for further key rate cuts, the Bank of Russia was not committing to cutting the key rate at any specific meeting. Further key rate decisions
110
18.05.2026
following the key rate meeting on 13 February 2026, the forecast has been changed as follows.
Key rate. The range of the average key rate