Expert Milovidov spoke about the logic of lowering the key rate

Reducing the key interest rate by 2% was a logical step that was predicted in advance by market participants. Vladimir Milovidov, Deputy Director for Science of IMEMO RAS, Member of the Board of the Russian Academy of Sciences, Doctor of Economics, told about this on July 25 at the Izvestia press center during a round table on the topic: "Key rate: forecasts, risks and opportunities."

"It is necessary to reduce it, the time has come for this. <...> In fact, we returned to last year, let me remind you that last year for quite a long time the rate was kept at 16%, then in the summer it began to move up, and the first step was by 18%, as a matter of fact A year later, we almost returned to this level, so this value is quite objective," Milovidov said.

In addition, in his opinion, the rate cut reflects the consensus reached not only within the regulator, but also in the scientific and business communities.

Waiting for the key: the dynamics of the ruble exchange rate will be determined by the outcome of the Central Bank meeting

Most experts predict a rate of no more than 80 rubles per dollar, even taking into account the reduction in the key rate

On the same day, the Central Bank of the Russian Federation lowered its key rate to 18% per annum. It was noted that further decisions on the key rate will be made depending on the sustainability of the slowdown in inflation and the dynamics of inflation expectations. According to the Central Bank's forecast, annual inflation will decrease to 6-7% this year, and return to 4% in 2026.

The head of the Central Bank of Russia, Elvira Nabiullina, said that the key rate forecast suggests a possible reduction at the remaining meetings in 2025. According to her, everything will depend on the incoming data.

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