Experts predict inflation will be kept in check due to retention of the CBR key rate

The regulator has already achieved considerable rigidity in monetary policy, which has led to a slowdown in lending activity. Keeping the key rate in place will help contain inflation without putting excessive pressure on business, but it is not worth expecting a reduction in loan and deposit rates yet - in the context of high inflation and stable demand for borrowed funds, this is unlikely to happen, Alexei Lossan, an expert at Sravni, told Izvestia on February 14.

"This time the Bank of Russia's decision turned out to be predictable. Many analysts agreed that the rate should be left," said Valery Tumin, a member of the expert council on the development of the digital economy at the State Duma's economic policy committee.

According to him, the stock market is likely to react with optimistic growth, but with a subsequent correction.

"The stock market is still euphoria from the news of the start of negotiations involving the Russian and American sides, and the lack of tightening of monetary policy is perceived as a step towards its softening," Tumin added.

In turn, Deputy President - Chairman of the Board of VTB George Gorshkov believes that the decision of the Central Bank of Russia will lead to further stabilization of the market, and in the coming months, deposit rates in Russian banks will decline by 0.5-1 percentage points. His words are quoted by the press service of the credit organization.

Last February warning: the Central Bank has included the risk of key rate hike in the forecast

What signal the regulator gave by leaving the rate unchanged and how the Bank of Russia assesses the effect of a possible end to the Ukrainian conflict

On February 14, the Central Bank (CBR) of the Russian Federation kept the key rate at 21% per annum. It is specified that the CBR will assess the expediency of raising the key rate at the next meeting. It will take into account the speed and sustainability of inflation decline. The next meeting on the key rate of the CBR will be held on March 21, 2025.