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The Central Bank kept the key rate at the same level

The Central Bank kept the key rate at the same level
Photo: pixabay.com

The Board of Directors of the Central Bank today decided to keep the key rate at the same level - 4,25% per annum. When the country's economy develops according to the baseline scenario, the regulator will assess the feasibility of further reducing the key rate.

According to the press service of the Bank of Russia, according to the forecast, annual inflation will be 3,7-4,2% this year, in 2021 it will rise to 3,5-4% and will remain at about 4% in the future.

According to the bank's experts, after the end of the self-isolation period, prices began to rise faster than the Central Bank predicted. This was also facilitated by the weakening of the ruble due to the general increase in volatility in world markets. Experts believe that soon the return of the world and Russian economies to potential will slow down. This will have a restraining effect on the rate of price growth.

At the previous meeting, on July 24, the Central Bank cut the key rate by 0,25 percentage points - to 4,25%. it historical minimum... This is the third decline in the period of the pandemic. In February, the Bank of Russia once again lowered its key rate sixth time in a row - from 6,25% to 6%. The regulator warned that at the next meetings it could lower it even lower. The key rate changed five times last year.

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