The Central Bank may increase the interest rate to 16 percent annually by the end of the year. BCS Forex analyst Anatoly Trifonov told socialbites.ca about this.
According to the expert, in general, the probability of an interest rate increase in December is low. Interest rates are already high enough to reduce inflation. However, if price increases remain high in November, the Central Bank may decide to increase the interest rate to 16%. A larger increase is possible only if the sanctions policy is sharply tightened, but we do not expect a serious expansion of sanctions until the end of the year,” Trifonov said.
According to him, the Central Bank directed high inflation and economic activity with its last interest rate increase at the end of October. “From this perspective, the increase seems justified, as the Central Bank remains committed to its goal of returning inflation to the target level by the end of 2024,” Trifonov said.
Before that, the head of the Central Bank of the Russian Federation, Elvira Nabiullina reported He said the Bank of Russia did not rule out the possibility of increasing its key interest rate by the end of 2023.
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