The Central Bank lowered the key rate to 14.5% per annum

On April 24, the management of the Bank of Russia decided at a meeting to pursue an easing policy that began last summer. As a result, the key rate was reduced by 0.5 percentage points and now stands at 14.5% per annum instead of the previous 15%.

A press release posted on the website of the Central Bank of the Russian Federation says that this decision is due to the fact that the growth rate of domestic demand is gradually aligning with the possibilities of increasing the supply of goods and services.

The Central Bank noted that steady price pressure has not weakened yet and inflation remains at 4-5% in annual terms, while uncertainty remains due to external factors and budgetary policy parameters.

Apply for a rate: the Central Bank is expected to reduce the key rate to 14.5 in April.%

Inflation turned out to be better than expected, and economic growth is worse — but the regulator is cautious.

The last time the Central Bank lowered its key rate was on March 20. Then it was lowered to the level of 15% per annum. Later, on April 24, Alexander Shokhin, the head of the Russian Union of Industrialists and Entrepreneurs (RSPP), said that the Central Bank needed to reduce the key rate to 14%.

Sergey Taran, Managing Director of LANSOFT IT holding, told Izvestia on April 21 that the Bank of Russia may continue its policy of easing monetary policy and reduce the key rate to 14.5% in April. He also noted that the current economic situation corresponds to the conditions that the regulator had previously outlined for continued policy easing.