Central Bank explained options for changing key rate

The Central Bank will consider a wide range of options for changing the key rate in December, the head of the Department of Monetary Policy of the Bank of Russia Kirill Tremasov at the International Forum of the Moscow Exchange. His words report RIA Novosti.

“I think that on the December meeting on the” table “of the Board of Directors will be a wide range of options for changing the key bet,” he told. According to Tremasov, the Central Bank is determined to bring inflation to four percent at the end of 2022.

Last year, the meeting of the Central Bank for the key rate will be held on December 17th. At the October meeting, the Central Bank raised the rate at once 0.75 percentage points – up to 7.5 percent per annum.

On a speech in the State Duma In mid-November, the Chairman of the Central Bank Elvira Nabiullina stated that high inflation threatens the destruction of the well-being of people. According to the basic scenario, the Central Bank, inflation at the end of 2021 should not exceed 7.9 percent, and next year it is expected to decline up to 4-4.5 percent. To achieve this goal, the average annual key rate in 2022 will continue at the level of 7.3-8.3 percent.

Also Nabiullina said that the key rate will continue above the neutral range of 5-6 percent of the minimum until mid-2023. According to her, the hold of the bet above is neutral will provide a sustainable deceleration of inflation.

/Media reports.