Russian banks expect the interest rate to rise to 14 percent after the Central Bank’s meeting on October 27 “News”.
According to analysts, it will be possible to avoid raising the key interest rate if the dollar exchange rate is fixed at 97 rubles or falls to 90 rubles.
It was noted that the key interest rate is expected to be increased to 14 percent in nine of 12 banks. Expobank alone expects the key interest rate to rise to 15%.
Money market regulations currently include an increase in the key interest rate to 14%, said Igor Rapokhin, senior debt market strategist at SberCIB Investment Research.
Analysts the Central Bank has previously met with revised Forecasts on a number of macroeconomic indicators in Russia. According to their forecasts, the country’s GDP in 2023 could grow by 2.5% instead of 2.2% compared to the previous estimate.
Formerly Central Bank of the Russian Federation raised key rate up to 13%.