VTB predicts a reduction in the key rate to 13% by the end of 2024 – Kommersant
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Head of VTB (MOEX: VTBR) Andrey Kostin believes that the policy followed by the Bank of Russia regarding the key rate is balanced. According to VTB estimates, by the end of 2024 the key rate will drop to 13%, but the process will be carried out “carefully, like a woman.”
“I think the policy is balanced, the Central Bank uses traditional levers, it monitors this, and I think that as inflation stabilizes, the rate will decrease. We forecast about 13% by the end of the year. We believe that from the second half of the year the rate should definitely go down slowly, carefully, like a woman,” Mr. Kostin said in an interview with the Rossiya 24 TV channel.
February 16 Bank of Russia saved key rate at 16%. The regulator’s report following the meeting stated that the return of inflation to the target and its further stabilization at 4% implies a long period of tight monetary conditions. Prior to this, the rate was raised five times in a row – by only 850 basis points.
Read more about the new format of the Central Bank’s publications on the key rate in the Kommersant article “The Bank of Russia showed the drafts”.
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