The Central Bank denied the statement by Communist Party deputy Maria Prusakova that the regulator intends to lower the key interest rate in March 2025. Prusakova claims that such a plan was expressed by Elvira Nabiullina, speaking in the State Duma before the deputies of the Communist Party of the Russian Federation.
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“This information is not true. The president of the Bank of Russia, speaking with the Communist Party faction, did not mention specific dates for changing the key exchange rate,” RB.RU was informed by the press service of the Bank of Russia.
They added that the “path of rates” will depend on inflation dynamics and inflation expectations. “The forecast path of the key interest rate was published as part of the medium-term forecast after the meeting of the Board of Directors of the Bank of Russia on October 25, 2024,” the Central Bank recalled.
According to Prusakova, Nabiullina ended her speech in the State Duma with an “optimistic forecast” that the rate will begin to decline in March and will fall to “level 23.” At the same time, the deputy stated that the past forecasts of the head of the Central Bank “were not fulfilled” and expressed doubts that “in the near future we will see a real reduction in the Central Bank rate.”
The Board of Directors of the Bank of Russia, at a meeting on October 25, raised the key interest rate to a record 21% per year. This was the third rate increase in 2024. The regulator also allowed an increase in the key rate at the next meeting, which will take place on December 20.
According to the forecast of the Central Bank, the average key rate in 2024 will be 17.5%, in 2025 – 17-20%, in 2026 – 12-13% per year.
At the beginning of 2023, the key rate was 7.5% per year, but in July the Central Bank took steps to tighten its policy. By December, the rate had risen to 16%.
Author:
Timur Batyrov
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
