Statement by Elvira Nabiullina, Bank of Russia Governor, in follow-up of Board of Directors meeting, you can see it in Russian language too. Basically Elvira Nabiullina said that 21% key rate is not final number, it might be higher after December, 20-th. Reasons and effects were also in that conference.

Well, it might be cool if inflation will be near 4% in 2026 year, but we can’t see the future, so… Will see