The Bank of Russia may continue to tighten key interest rates, possibly by another 100 basis points by the end of the year. He told this to Gazeta. Ru” Management Company PSB General Manager for Investments Nikolay Ryaskov.
“We expected the Central Bank to gradually increase the interest rate to 15 percent by the end of the year, but the regulator assessed that the current acceleration in inflation required faster and more decisive measures. Controlling inflation is the main priority of the Bank of Russia. “We do not rule out the possibility of another rate hike of 100 basis points this year,” Ryaskov explained.
Ryaskov believes that the result of today’s meeting will be a decline in bond prices and a slight decline in the Moscow Stock Exchange index. Management company PSB kept its forecast for the dollar exchange rate at 90-100 rubles by the end of the year.
Before that, the Central Bank of the Russian Federation unexpectedly held a meeting of the board of directors on October 27 raised Increase key rate by 200 basis points immediately
Previously former chairman of the Central Bank appreciated A sharp increase in the key interest rate to 15% and the possible consequences of this decision.