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The Bank of Russia is considering a reduction in the key rate in the second half of 2024, provided that inflation would continue to decrease steadily, TASS quoted regulator’s governor Elvira Nabiullina during her address to the State Duma as saying on Monday.
Nabiullina stated: “If inflation continues to slow down consistently, we anticipate that we could begin to lower the key rate this year, more likely in the second half. However, numerous factors urge us to proceed with caution, including the persistently high inflation risks.”
In its second meeting in 2024, the Bank of Russia chose to maintain the key rate at 16 per cent per year. The next board meeting to discuss the key rate is slated for April 26.
