Russia’s central bank anticipates maintaining a stringent monetary policy throughout 2024 to bring inflation back to the target of 4%. The bank’s key rate for the next year is projected to range between 11.5% to 12.5%. However, as inflation decreases, this rate is expected to normalize to 5.5-6.5% by 2026. Russia’s GDP growth rate for the upcoming year is forecasted to be between 0.5% and 1.5%, with steady growth in subsequent years. Banking demands on the economy will grow 7-12%, indicating continuous real-term loan growth with 4% inflation.