Posted 17 марта 2023,, 11:01

Published 17 марта 2023,, 11:01

Modified 17 марта 2023,, 11:23

Updated 17 марта 2023,, 11:23

The Bank of Russia has kept the key rate at 7.5%

The Bank of Russia has kept the key rate at 7.5%

17 марта 2023, 11:01
The Board of Directors of the Bank of Russia at a meeting on Friday decided to keep the key rate at 7.5% per annum. This is stated in a message on the regulator's website.

The central bank keeps the key rate at this level for the fourth time in a row. The last reduction in the key rate was in mid-September. Then the regulator lowered it from 8% to 7.5%.

The regulator's statement notes that the current rate of price growth is moderate. The expectations of the country's residents for inflation have decreased, but they still remain at a high level, as well as business expectations.

"Operational data indicate a continued recovery in business and consumer activity", - the report says.

Pro-inflationary risks today form the growth of budget expenditures, the deterioration of foreign trade conditions, as well as the state of the labor market, the report says.

In general, the regulator notes that the balance of inflation risks has remained unchanged since the previous meeting.

The forecast of the Central Bank notes that by the end of the year, inflation in the country will be about 5-7%. In 2024, price growth will slow down at the level of 4%.

The next meeting on the key rate is scheduled for April 28.