Stuck in the positive // The Bank of Russia did not take the chance to raise the rate on declining inflation
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In the forecast of the Bank of Russia for 2023–2025, inflation indicators have been reduced due to a more successful than expected reconfiguration of imports. The Board of Directors of the Central Bank did not change the key rate, however, the discussion of its increase is likely to continue at the next meeting. There are more reasons for an increase in inflation in the middle of the year; temporary factors play against it – only their high inertia, according to the Central Bank, makes it possible to contain inflationary pressure, which is growing more slowly than forecasts.
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