The Central Bank named a condition for slowing the rate of growth of consumer prices in the Russian Federation.
The regulator's experts believe that price growth will slow down with a more significant reduction in lending volumes.
This is stated in the regulator’s summary of the key rate discussion, published on the Central Bank’s website .
To date, the “adjustment” of the domestic credit market to changes in monetary policy has not yet been completed.
This process will continue in the coming quarters.
When experts record a slowdown in the growth rate of banks’ loan portfolios, the regulator will move to a gradual easing of its policy.
At this stage, this is not yet being discussed. Experts will be able to make a more accurate forecast in a few quarters based on new data.
Earlier in September, the Central Bank noted that inflationary pressure remains strong despite the increase in the key rate.
At the last meeting it was raised to 19%. It is not excluded that it will be raised again in October. It is expected that the key rate will rise to 20% at the end of October.
