Vedyakhin called reasonable a possible reduction in the key rate by another 2%

Lowering the rate by another 2% at the next meeting would be a reasonable decision for the economy. This was announced on September 3 by Alexander Vedyakhin, First Deputy Chairman of the Board of Sberbank, in the Izvestia studio at the Eastern Economic Forum.

"We are seeing a slowdown, the beginning of a slowdown in the economy. We believe that based on these signals, it would be reasonable for the economy to lower the rate at the next meeting by 200 basis points, that is, by 2%," he said.

In addition, he also expressed hope that by the end of the year the rate would be at the level of 14-15%, however, Vedyakhin continued, such a rate "is also a very difficult rate for the economy to start a new investment cycle," since at a high rate almost all investment projects, especially large investment projects, were frozen and stopped..

"It takes a year, nine months, or 12 months for an average project to restart the investment cycle. For a large one — from one and a half to three years. Therefore, these projects are carried out at a rate of about 12% per annum. Therefore, in order to resume the economic cycle, a rate of 12% or lower is needed. I sincerely hope that we will have it next year," concluded the first Deputy Chairman of the Board of Sberbank.

The obvious is incredible: what will be the Central Bank's key rate by the end of 2025

Experts named possible scenarios

On September 2, the Central Bank of Russia predicted the range of the key rate in 2026 at the level of 10.5–11.5% in the case of a disinflationary scenario of economic development. In the case of a pro—inflationary scenario, the rate range is expected to be 14-16% in 2026, 10.5–11.5% in 2027, and 8.5—9.5% in 2028.

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