The Central Bank of the Russian Federation lowered the key rate to 16.5% per annum

The Central Bank of the Russian Federation lowered its key rate to 16.5% per annum. This was announced on October 24 on the official website of the regulator.

Holding game: banks have started raising rates on individual deposits

There was an unexpected trend in the banking market in autumn

On October 20, it was reported that the reduction in the key rate, which began in the summer, would affect the growth of gross domestic product (GDP) only in 2027, the Accounting Chamber predicts in its conclusion on the draft budget. The fact is that the momentum from changes in the monetary policy of the Central Bank (CB) is fully manifested only after three to six quarters (9-18 months).

Finance Minister Anton Siluanov said on September 9 that it is currently necessary to lower the key rate and rates in the economy, for which actions on a balanced balanced budget are justified. According to him, the Central Bank is currently closely monitoring the budget deficit and its impact on monetary policy.

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