Russia Sets Euro Exchange Rate as Inflation Targets 4% by 2027

The Central Bank of Russia has set the official euro exchange rate for September 12 at 97.8728 rubles.

In a related announcement, Elvira Nabiullina, the head of the Central Bank, stated that the trajectory of the key interest rate will be adjusted to ensure inflation reaches 4% in 2027.

The economy is expected to continue growing moderately in the third quarter, according to Nabiullina. The Central Bank has decided to keep the key interest rate at 14% per annum.