The Central Bank of the Russian Federation sees the opportunity to reduce the key interest rate in the second half of the year, but for this to happen, favorable conditions must exist. In an interview about this RIA News said Central Bank governor Elvira Nabiullina.
“If you look at our baseline forecast, we see room for a rate cut this year, most likely in the second half of the year,” Nabiullina said.
According to him, this can only happen if there is a stable downward trend in inflation, so the Central Bank of Russia will carefully analyze the incoming data.
The next meeting of the Central Bank Board of Directors regarding the interest rate will be held on February 16.
The Central Bank has increased interest rates several times since July 2023. The last increase to date occurred on December 15 – followed by the Central Bank of Russia raised Key rate up to 16% per annum.
Russian President Vladimir Putin in January named He expressed confidence that the inflation situation in the country would improve by raising the interest rate as a temporary measure.
Previously Nabiullina statedthat the world has managed to avoid a global recession.