The Central Bank does not rule out raising the key rate in December
The Central Bank has spoken out about further tightening of monetary policy.
The regulator does not rule out that the key rate will be raised in December.
This statement was made by the advisor to the Chairman of the Central Bank of the Russian Federation, Kirill Tremasov, during the Perm Engineering and Industrial Forum, TASS reports.
According to Tormasov, at the upcoming December meeting, the Central Bank plans to forecast how the inflation situation in Russia will develop further.
According to the forecast of the Russian regulator, by the end of this year inflation should not exceed 8-8.5%, and by the end of 2025 the values should settle at 4-4.5%.
To achieve such results, the key rate is set in the range of 17-20% in 2024. However, this does not mean that it will ultimately remain within these limits, since everything depends on the pace of economic development.
For reference
The key rate of the Bank of Russia is the main instrument of monetary policy conducted by the Bank of Russia.
