The regulator named the conditions under which the trend will continue.
The Central Bank of Russia has decided to lower the key annual rate previously raised to 20%.
According to the decision of the regulator, from April 11, its value will decrease by 300 basis points and will amount to 17% per annum.
Earlier, the Central Bank explained that a cardinal increase in the key indicator, from 9.5 to 20%, despite all the associated risks, is necessary to support financial and price stability in Russia, which has found itself in a difficult situation due to anti-Russian sanctions by the US and the EU and the fall in the ruble exchange rate.
The regulator explained that this is the only way to protect the money of Russians on deposits from depreciation. Recall that such countermeasures were taken against the background of the beginning of Russia’s military special operation in Ukraine.
Its goal is called denazification and demilitarization of the neighboring state, TASS reports.
Now, the Central Bank reported that it will continue to assess external and internal conditions and risks when considering a subsequent rate cut.
So far, experts do not rule out that a comparison of the actual and expected dynamics of inflation will be in favor of Russia. Therefore, the scenario is likely that the rate will continue to decline, and such decisions may be made already at the next meetings of the Board of Directors of the Central Bank.
Earlier, Topnews wrote that the Central Bank had collapsed the stock market by raising the key rate to 9.5%.
Join our VK group to keep up to date with events in Russia and the world