The Central Bank of the Russian Federation did not rule out another increase in the key rate

The Central Bank of the Russian Federation does not rule out that in case of insufficient reduction in inflation, an additional increase in the key rate may be required. This was announced on April 2 by Alexey Zabotkin, Deputy chairman of the regulator.

"We do not rule out that an additional rate increase may be required, if not at the next meeting, then in the future, if inflation slows down at a pace other than our forecast of 7-8% for this year and 4% for next year," Zabotkin said, quoted by TASS.

At the same time, he noted that the required level of monetary policy rigidity has already been achieved.

Deposit sentiment: average deposit rates dropped below 20%

What does this say about the Central Bank's decisions on the key issue and is it worth addressing the savings issue now?

Earlier, on March 21, it was reported that the Central Bank kept the key rate at 21% per annum. The regulator said that if the dynamics of disinflation does not ensure the achievement of the goal, the Central Bank will consider raising the key rate. According to the forecast, taking into account the current monetary policy, inflation will decrease to 7-8% in 2025, and return to 4% in 2026. They plan to maintain it at this level in the future.

Alexey Okhorzin, Deputy President and Chairman of the Board of the Post Bank, admitted on March 17 that the Central Bank of Russia may consider lowering the key rate as early as April 2025.