The Central Bank may reduce the policy rate from 7.5% to 7.25% annually at the next Board of Directors meeting to be held on February 10, 2023. Such an estimate was given by the Chairman of the State Duma Financial Market Committee Anatoly Aksakov. transmits Hit the lining.
“In February – 7.25%, then depending on the situation – 7%, and in 2023 6.5% per year is a very real figure,” said Aksakov.
According to the MP, if the key interest rate is lowered, loan interest rates will also decrease.
Earlier, Albert Koroev, head of the stock market specialists department of the financial holding BCS Mir Investments, in a conversation with socialbites.ca expression The view that the Central Bank will follow a moderate cut in the key interest rate in 2023. Koroev noted that it could reach 6.5% annually.
“In the absence of new shocks for the Russian economy, the Central Bank banking sector will follow a moderate cut in the key interest rate next year. And in that context, we can focus on the lower end of the forecast range, i.e. 6.5% per annum.”
Koroev does not expect a significant increase in deposit rates and a decrease in loan costs in 2023.
The Central Bank of Russia, in its October medium-term forecast, set the forecast range of the key rate for 2023 at 6.5-8.5% per annum. Now the rate is in the middle of this range.
In 2022, the Central Bank started key interest rate cuts as of April. Since then, it has declined by 12.5 percentage points to 7.5% annually.