Persistent above-target inflation, with September consumer prices rising 6.35% year-over-year and accelerating month-on-month, combined with rising inflation expectations to 14.2%, underpins the strong trader consensus for no change at the Bank of Russia's October 23 meeting. Following the September hold after prior easing, analysts surveyed by outlets including Izvestia overwhelmingly project retention of the 14% key rate, citing dominant pro-inflationary pressures and the central bank's cautious stance amid fiscal and demand factors. A lone outlier anticipates a modest 25 basis point cut. Potential shifts could arise from unexpectedly rapid disinflation readings or clearer central bank signals favoring resumption of easing before year-end.