At the Bank of Russia’s board meeting on February 16, the key interest rate will remain unchanged at 16% annually. All experts interviewed agree on this view. RBC And “Vedomosti” — analysts of the largest banks and investment companies.
According to experts, the Central Bank does not yet have the necessary prerequisites for an interest rate cut and the reasons for an increase. Starting from the middle of this year, the Central Bank may start to loosen monetary policy, and if the situation develops positively, this will happen in early April.
Analysts believe the effects of monetary policy are beginning to emerge. Thus, consumer spending slows down as well as inflation, loans in the consumer sector cool down and the ruble exchange rate stabilizes. However, as the full impact of these has not yet been realized, the Central Bank will leave the key interest rate at the current 16% level. At the same time, the Central Bank may soften its rhetoric and signal that the high level of interest will continue for a long time.
Previously reportedIt was stated that Russians started to save more as inflation increased to 7.5 percent by the end of 2023 and the key interest rate was increased to 16 percent.
15 December Central Bank raised key rate up to 16%.