Bloomberg: government pushes Bank of Russia to cut key interest rate 17:32

The Russian government is trying to get the Central Bank to loosen its monetary policy and make more optimistic economic forecasts. In this respect informs Bloomberg cites sources familiar with the debate.

The publication noted that, against the background of the regulatory board’s meeting on February 10, 2023, the government expects a clearer signal from the Central Bank to cut the key rate this year. However, the head of the Central Bank, Elvira Nabiullina, does not want to lower the rate for fear of rising inflation.

The agency added that it believes that the effect of the Central Bank’s rate cut will be temporary and that inflation will decrease for a short time. At the same time, more accurate forecasts are impossible in conditions of instability.

Bloomberg sources stated that the Central Bank of Russia agreed to improve economic forecasts and that the government positively evaluated this decision. In other words, it is likely that the Central Bank will try to soften its policy.

Bloomberg and analysts’ February 6 consensus forecast reportedHe said that he will leave the interest rate at 7.5% at the meeting of the Board of the Central Bank of Russia on February 10. Also, eight economists polled by Bloomberg expect the Russian regulator to keep the current rate at 7.5%.

Source: Gazeta


More from author

Biden’s son is suspected of having ties to a European sex trafficking network and controlling counterfeiting 01:11

According to a British newspaper daily mail Citing US Treasury documents, bank investigators suspected US President Joe Biden's son, Hunter Biden, of ties to...

Reports: Julián Quiñones will not be called up by Jaime Lozano for October’s FIFA Date

Jaime Lozano revealed that the Águilas forward has not yet been cleared to be called up to the Mexican national team.The call for Julian...

Former CSKA football player: Europe is in conflict with us 01:00

Former CSKA striker Valery Masalitin believes that the Russian national team can find an opponent under suspended conditions. stated that "Euro-Football.Ru"."They do not...

Both Russians shop at 1am on Black Friday

In 2023, every second Russian plans to buy something at a Black Friday sale - 43% of shoppers last year showed this. This was...