The Central Bank of Russia will most likely start reducing interest rates in the second quarter of 2024. said “Parlamentskaya Gazeta” Chairman of the State Duma Committee on Financial Markets Anatoly Aksakov.
He noted that the Central Bank’s recent decision to increase the interest rate to 16 percent was correct because inflation in the country should be reduced. According to him, key interest is the main tool in this regard. However, the MP believes that the 16% position is the limit.
“The pressure on the market will decrease, inflation will begin to fall, and then the Central Bank will begin to gradually reduce interest rates, I think starting from the second quarter, which means loans will become cheaper,” Aksakov said.
Maxim Petronevich, Head of the Center for Macroeconomic and Regional Analysis and Forecasting of Rosselkhozbank, said in an earlier conversation with socialbites.ca aforementionedThe Bank of Russia’s decision to raise the key interest rate to 16% can be considered quite conservative. In his view, given the current tone of the regulator’s press release, there is no reason to believe that the cycle of tightening monetary policy is over. If the inflation situation does not improve, the interest rate increase may continue at the beginning of 2024.
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