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Post: Central Bank allowed interest rate hike before the end of the year

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Nabiullina: Another increase in interest rate possible before the end of the year

MOSCOW, November 9 – RIA Novosti. RIA News. The key interest rate of the Central Bank of the Russian Federation may remain at the current level of 15 percent this year, but another increase may occur before the end of the year, and the Central Bank will begin to reduce interest rates in 2024. The regulator’s president, Elvira Nabiullina, said inflation was slowing.

Speaking at the joint meeting of the State Duma review, Nabiullina said: “The rate may remain at this level this year, but there may also be another increase. But as inflation decreases, we say that we will start reducing the rate next year.” The main directions of committees’ monetary policy in 2024-2026.

The Central Bank of the Russian Federation began tightening monetary policy in July and raised the rate for the last time by 2 points to 15% annually on October 27. The next meeting of the Board of Directors of the Bank of Russia on the key interest rate is scheduled for December 15, 2023.

Ruble exchange rate - RIA Novosti, 1920, 28.10.2023

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Source: Ria

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