Nabiullina spoke about the “neutral zone” at the rate
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The Chairman of the Bank of Russia Elvira Nabiullina said that now the monetary policy is in the neutral zone. Deciding leave base rate at 7.5%, Ms. Nabiullina explained, the Central Bank (CB) gave a “neutral signal”.
This means that the further direction of the monetary policy of the Central Bank will depend on data on the economy, inflation expectations, the head of the regulator explained. “There may be an upward movement (at the rate.— “b”) and moving down,” she said at a press conference following the meeting of the board of directors on monetary policy, broadcast was conducted on the air of Rossiya-24.
Today the Central Bank for the first time in six months did not continue lowering the rate and left it at 7.5%. The last time the regulator lowered the rate was in September. In September, the head of the Central Bank Elvira Nabiullina warnedthat subsequently the Central Bank may either complete the rate cut or raise it.
On the behavior of investors amid expectations of maintaining the rate – in the material “Kommersant” “OFZ softened the yield”.
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