Nabiullina told when the Central Bank will start reducing rates – Kommersant
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The Central Bank (CB) sees room to reduce the key rate this year, most likely in the second half of the year, said the head of the Central Bank, Elvira Nabiullina. According to her, a rate reduction is possible only after a stable trend towards slowing inflation.
“If you look at our baseline forecast, we see room for a rate cut this year, most likely in the second half of the year. Exactly when this happens will depend on incoming data. We must make sure that the trend towards lower inflation is stable,” the head of the Central Bank said in an interview with RIA Novosti.
On December 15, 2023, the Central Bank for the fifth time in a row raised key rate – from 15% to 16% per annum. The regulator explained its decision by inflationary pressure. Deputy Chairman of the Central Bank Alexey Zabotkin said, that the regulator will need to keep the key rate high for a long time, but promised that in 2024 it will be reduced. The next meeting of the Board of Directors of the Central Bank on the key rate is scheduled for February 16.
About forecasts for the rate – in the material “Kommersant” “Bet on mitigation”.
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