Analysts expect the Bank of Russia to pause its rate hike, currently at 16%, for the first time in eight months. This was reported by RIA News citing analysts surveyed.
The Central Bank cites the fight against rising inflation as the reason for increasing interest rates. Since July, the Bank of Russia has steadily increased interest rates, first by 1%, and then by 3.5% since August. The key rate was also increased by 3% in the autumn, and the last time it was increased by a further 1% in December.
“Our basic prediction is that the Central Bank will keep the interest rate at 16 percent. We see the first signs of stability in inflation. For the second month in a row, the annual inflation rate was 7.4%. “The rise of prices has stopped and the first signs of a slowdown in growth have appeared,” said Ilya Fedorov, chief economist at BCS World of Investments.
His colleagues argue that the Central Bank will take a wait-and-see approach to changing the interest rate.
Before that, the former deputy chairman of the Central Bank gave it. to guess at key rate.
Previously eight banking analysts and one economist guess socialbites.ca maintains the key rate on February 16.