The consensus forecast of Vedomosti: the Central Bank will lower the key rate from 8 to 7.5%

The Board of Directors of the Bank of Russia at a meeting on September 16 will continue the cycle of lowering the key rate, but will act more cautiously, according to analysts polled by Vedomosti. The majority – 10 out of 13 – expect it to decrease by 50 basis points (b.p.), from 8 to 7.5% per annum. However, almost all of them admit that the Central Bank may take a more conservative step. Two experts who do not expect a 50 bp decline. p., voted for 100 b. p., one – for 25.

The rapid slowdown in inflation and the need to support the economy in difficult conditions are in favor of further easing of monetary policy, most of the respondents explain their forecasts.