Some board members of the Bank of Russia allowed the interest rate to be reduced before the second half of the year. This is stated in summary After the meeting held at the Central Bank on February 16, the interest rate was discussed.
“Most participants expected that, in the baseline scenario, conditions for the start of the rate cut would develop in the second half of 2024. Some participants did not rule out the possibility that the decline would start a little earlier,” the document says.
At the same time registeredIt appears that the pass-through of interest rate increases is accelerating and inflationary pressures are weakening.
February 16, Governor of the Central Bank of Russia Elvira Nabiullina spokeIt is stated that the regulator sees room to reduce key interest rates but plans to reduce them gradually.
Previously, Vladimir Bragin, Director of Financial Markets and Macroeconomics Analysis at Alfa Capital Management Company statedHe said the Bank of Russia’s interest rate will be reduced in 2024 and could reach 12% by the end of the year.
At the meeting of the board of directors of the Central Bank of the Russian Federation on February 16 left The base rate remains unchanged at 16% per annum.
Previously reportedDue to rising inflation and the interest rate being increased to 16 percent, Russians began to save more.