GREF said when awaits a decrease in the key rate

“We will see how the loan portfolio will grow. If it does not grow at a rate like last year, and falls for two months in a row, then in the second half of the year we will see a strong reduction in inflation. We hope, respectively, the cycle of reducing the key rate in the second half of 2025, ”said Gref.

Without optimism. Gref added that in the “savings” they do not expect an early elimination of anti -rush sanctions. “We proceed from the script that sanctions will not be eliminated. In addition, we proceed from the scenario that the sanctions will harden. Therefore, everything that will be will be a happy bonus, ”said the head of the credit institution.

The advantages of heating. At the same time, Gref made positive changes in the Russian economy in the context of improving the geopolitical situation. In particular, they can concern oil prices and a tributary of foreign capital. “There will be many positive changes, obviously completely, but we live in the paradigm that there is none of this,” he concluded.

• On February 14, the Bank of Russia left a key rate of 21%. The regulator said that “the inflationary pressure remains high”, and the return of inflation to the 4% objectives will occur only in 2026.
• The key rate is maintained at 21% since October 2024: then the Central Bank raised it immediately in 200 PB, to the maximum historical. The regulator’s decision was taken in the context of inflation acceleration.