Kostin: in the near future the key rate may be reduced to 7%
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Chapter VTB Andrey Kostin sees prerequisites for reducing the key rate of the Bank of Russia down to 7%. He stated this at a session of the Eastern Economic Forum.
“By the way, we believe that there are prerequisites for reducing the key rate, even in the near future to 7.5% and, perhaps, further to 7%,” said Kostin (quote according to TASS).
On February 28, the Central Bank sharply raised the key rate from 9.5 to 20% due to radically changed conditions in the economy and the onset of the crisis. From April 8, the rate began to decline.
The current key rate is 8%. Previously, the Board of Directors of the Bank of Russia lowered it by 1.5 points at the July 22 meeting. The next key rate meeting will be held on September 16.
In addition, in July the Central Bank gave optimistic inflation forecasts. According to the regulator, in 2022 it will be 12-15%, then it will decrease to 5-7% in 2023 and return to 4% in 2024. Back in June, the Bank of Russia spoke about price growth at the level of 14-17% in 2022
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