The Board of Directors of the Bank of Russia decided to keep the key rate at 7.5% per annum. This is stated in the regulator’s message.
The current key rate has been held since September 2022, before that it was raised six times in a row.
Analysts also forecast a key rate of 7.5%. BCS did not expect any changes, and RSHB Asset Management allowed both the preservation of the indicator, and did not rule out the possibility that the regulator symbolically increases it by 25 basis points to 7.75%.
- The Central Bank forecasts annual inflation at the level
5–7% in 2023 and 4% in 2024. - The regulator pointed out that there are pro-inflationary risks in the labor market. “Labor shortages in certain industries may cause labor productivity growth to lag behind real wage growth,” the central bank said in a statement.
- The Central Bank assesses the current rate of price growth as moderate. The population’s inflationary expectations have decreased, but they are still at a high level, as are business price expectations.
- According to the regulator, commercial and consumer activity continues to recover.
The next meeting of the Board of the Central Bank, where the issue of the key level of the rate will be considered, will be held on April 28.
Author:
anastasia mariana
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.
