The Central Bank of the Russian Federation predicted further easing of credit policy

The updated key rate forecast suggests a further easing of credit policy. This was announced on December 2 by the head of the Central Bank (CB) of the Russian Federation Elvira Nabiullina at the forum "Russia is calling!".

"The decision that we have made to lower the key rate is a small step, but it is a continuation of monetary policy easing," Nabiullina said.

She also noted that the market reacted absolutely correctly to such a clarification of the forecast. According to her, the increase in the forecast trajectory is a revision of the Central Bank of the Russian Federation's expectations for the key rate.

Nabiullina stressed that financial market participants draw qualitatively correct conclusions and adjust forecasts if new data is released and there are grounds to reconsider trends.

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On the same day, Nabiullina said that the key rate of the Central Bank of the Russian Federation is working effectively, restraining excessive demand and high credit growth. In addition, she pointed to a significant increase in investments compared to 2021. The head of the Central Bank added that in five months of reducing the key interest rate, corporate loans have added 5.8 trillion rubles.

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