The Central Bank of Russia wants to raise interest rates to 18 percent due to rising prices in the country and failure to meet annual inflation targets. The newspaper reports this”News» with reference to its own consensus estimate.
“The Central Bank may raise the key interest rate by 2 percentage points to 18% after the meeting on July 26. Moreover, three experts allowed growth to reach 19-20% immediately. A third of analysts surveyed believe that the Central Bank interest rate may rise to 17-18%. And only two analysts consider a 1 percentage point increase to be significant. As stated in the forecast, this is the main forecast option”.
According to the publication, the main reason for raising the key interest rate is the significant upward deviation of inflation from the last forecast – this opinion was expressed by Olga Belenkaya, head of the macroeconomic analysis department of the Financial Group Finam.
His colleague Bogdan Zvarich, chief analyst at Banki.ru, also argues that high rates have failed to cool the credit market, which has been showing significant growth this year.
As experts note, despite the potential strengthening of the ruble, there are serious potential risks to the Russian economy, especially the stock market.
Previously financial analysts accepted increasing the interest rate to 18%.
Russians before become take out mortgages less frequently.