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may not exceed the amount calculated on the basis of the double key rate of the Bank of Russia effective on the day when the

the financial market of the Russian Federation and ensure its stability. A key element of the legal status of the Bank of Russia is its

Consumer Sentiment 11 No. 9 (105) September 2025 COMPANIES’ PRICE EXPECTATIONS BY KEY INDUSTRY Chart 11 63х82 (BALANCE OF RESPONSES, P, SA) 80 70 60

into account the key rate decision made by the Bank of Russia on 12 September 2025 and includes the calendar of key rate decisions for

suggestions through 31 October 2025. The digital public infrastructure will be a key topic of the Forum of Innovative Financial Technologies Finopolis 2025 to be

Board of Directors decided to cut the key rate by 100 bp to 17.00% per annum. Future key rate decisions will depend on the

is based on interest rates and yields in the key market segments, affecting each other (the key rate has a direct effect on short-term money

as is required to return inflation to the target in 2026. Further key rate decisions will depend on the sustainability of the decrease in inflation

Republic, the Zaporozhye Region, and the Kherson Region. CONTENTS Russian Federation ............................................................................ 6 Key trends in Russian regions ........................................................... 7 Core economic indicators .................................................................. 8 Inflation in Russian

1.8% after gaining 1.1% in July. Corporate loans remained the key contributor to the growth. Furthermore, retail lending also started to expand in