Economist made a forecast on key rate changes

The market is waiting for the key rate increase at the meeting of the Central Bank of Russia (CBR) on Friday, December 20. This opinion was expressed by economist, member of the supervisory board of the Guild of Financial Analysts and Risk Managers Alexander Razuvaev on Tuesday, December 17. He also made a forecast of when to expect a decrease in the rate.

According to the expert, the rate may be raised to 23%, but then it will begin to decline.

Earlier, the largest Russian banks began to raise deposit rates on the eve of the Bank of Russia meeting on the key rate, RT reports.

Thus, Sberbank raised rates at the beginning of the week - up to 22.5% per annum when depositing an amount over 1 million rubles for six months, 360.ru reports.

VTB raises rates on short-term deposits in rubles from December 17. For new customers the maximum rate on deposits for six months is 24% per annum with interest payment at the end of the term. For current customers - 23%, specified on the website kp.ru.

"Over the past month, I have formed a portfolio of shares with the aim of the end of 2026, because I believe that the Central Bank is right and in two years, the "key" will be somewhere around 12 percent and, of course, shares will rise in price," - said the economist in a conversation with Lenta.Ru.

Razuvaev called the rise in bank deposit rates traditional for the second half of December. According to the expert, during this period they rise regardless of the key rate. We are talking about New Year and Christmas offers.

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On the eve, Russian President Vladimir Putin said that in 2025 Russia will seek balanced economic growth, as well as the development of the supply economy. He pointed out that this will allow to achieve "the necessary parameters, including macroeconomic", reports NSN.

According to the head of state, "the economy is alive not by a single rate, but by the supply of goods on the market first of all," writes "Moscow 24".

Earlier, December 13, former head of the Central Bank Sergei Dubinin said that the regulator may raise the key rate to 22% at the end of the meeting on December 20. He recalled that he had said many times that the increase in the key rate itself does not bring instant results in the fight against inflation.

Prior to that, on November 28, Kirill Tremasov, Advisor to the Chairman of the Bank of Russia, said that the regulator will consider the issue of raising the key rate at a meeting on December 20. At the same time, Deputy President - Chairman of the Board of VTB Dmitry Pianov said that analysts of the bank predict an increase in the key rate to 23%.

October 25, the Board of Directors of the Central Bank raised the key rate to 21%, reports the agency of city news "Moscow. Then the head of the regulator Elvira Nabiullina said that the regulator may further raise the key rate in December, Regnum IA. She also admitted that if Russia does not face additional economic shocks, the Central Bank could start lowering the key rate in 2025.