Sep. 11, 2026 The Russian Central Bank. REUTERS / Shamil Zhumatov Russia’s Central Bank kept its key interest rate at 14% on Friday, saying that rising fuel costs, driven by Ukrainian drone attacks on oil refineries, and a “temporary reduction in production capacities” are making it difficult to tame inflation. The Central Bank reported that annual inflation hit 6.3% on Sept. 7. Policymakers maintained their full-year inflation forecast at 6% to 7%, and still expect price growth to fall toward the 4% target next year. “Current price pressures have increased significantly in recent months,” the regulator said in a press release. “The rise in motor fuel prices has also affected underlying inflation dynamics.” This is a breaking news story. Read more about: Central Bank Sign up for our free weekly newsletter Our weekly newsletter contains a hand-picked selection of news, features, analysis and more from The Moscow Times. You will receive it in your mailbox every Friday. Never miss the latest news from Russia. Preview Subscribers agree to the Privacy Policy We sent a confirmation to your email. Please confirm your subscription. A Message from The Moscow Times: Dear readers, We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent." These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia. We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help. Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact. By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us. Once Monthly Annual Continue Not ready to support today? Remind me later. × Remind me next month Remind me Thank you! Your reminder is set. We will send you one reminder email a month from now. For details on the personal data we collect and how it is used, please see our Privacy Policy. Read more No Sign Western Businesses Want to Return, Russian Central Bank Chief Says “As for companies that want to return, we haven’t received any requests in the financial sector yet,” Central Bank Governor Elvira Nabiullina said... 2 Min read Russia's Hidden War Debt Creates a Looming Credit Crisis The Kremlin's mechanism to unofficially fund its war machine is becoming a problem. 9 Min read The Russian Economy in 2025: 5 Key Things to Watch For The Kremlin has used its deep financial reserves to prop up the economy — but Russia appears to be finally feeling the weight of wartime pressures. 7 Min read Russia’s Central Bank Keeps Interest Rate Unchanged at 21% Analysts had expected policymakers to raise the key interest rate to as high as 23% this month as they continue to fight against rising prices. 3 Min read
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How 9/11 turned a terrorist attack into a generation of war
• What happened: On September 11, 2001, terrorist attacks by Al-Qaeda resulted in nearly 3,000 deaths and led to the U.S. invasions of Afghanistan and Iraq, sig...