Shokhin predicted a reduction in the key rate to a maximum of 15% by the end of the year.

The Central Bank of the Russian Federation will reduce the key rate to a maximum of 15% by the end of this year. This was stated on September 30 by the head of the Russian Union of Industrialists and Entrepreneurs (RSPP) Alexander Shokhin on the air of Rossiya 24.

"[The head of the Central Bank of the Russian Federation] Elvira Nabiullina at the banking forum in Sochi once again stressed that they would verify every step...> If I said at the Eastern Economic Forum that [the rate would drop to] 13-14% by the end of the year, now, God forbid, 15% will be at the end of the year," he said, an interview fragment published on the Vesti Telegram channel.

Shokhin stressed that the Central Bank will carefully approach the issue of the key rate. In his opinion, the decline will be gradual. However, he noted that lowering the rate to 10-12% would be optimal for entrepreneurs.

"Well, therefore, at 12-13% and 10%, at least at the end of next year, life will begin to improve," concluded the head of the Russian Union of Industrialists and Entrepreneurs.

"We are budgeting for 2026 at the key level of 12-13%"

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On September 25, Nabiullina announced the risks of a rapid reduction in the key rate. According to her, a sharp reduction in the key rate may lead to an acceleration of inflation.

Prior to that, on September 24, the Central Bank of the Russian Federation announced that it might need to pause work on reducing the key rate. It is planned that in the future decisions on the key rate will be made depending on the sustainability of the slowdown in inflation and the dynamics of inflation expectations.

On the same day, the Central Bank of the Russian Federation allowed monetary conditions to tighten due to a reduction in the key interest rate. This is due to the fact that the market has already taken into account a possible rate cut, and its participants expected a more significant reduction.

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