The expert assessed the impact of the Central Bank's decision on the key interest rate on the foreign exchange market

Until the end of April, the dollar remains in a confident range of 74-77 rubles, the euro — 87-92 rubles, the yuan — 10.70–11.50 rubles. Andrey Loboda, a member of the RASO and the commission on mining and blockchain technologies of the Finance and Investment Committee of the Chamber of Commerce and Industry of the Russian Federation, told Izvestia on April 27.

On April 25, the Central Bank of the Russian Federation set the exchange rate of the American currency at 75.5 rubles, the European currency at 88.2 rubles, and the Chinese currency at 11 rubles. At the same time, according to the Moscow Exchange, on April 27, the yuan is trading at 10.9 rubles.

"The central event of last week was the decision of the Bank of Russia to reduce the key rate by 50 basis points to 14.5% per annum. The absolute majority of market participants predicted the continuation of a smooth easing of monetary policy. At the same time, a new important introductory note has appeared: the Central Bank has raised the lower limit of the forecast range of the average rate this year: now it is 14.0–14.5% instead of the previously predicted 13.5–14.5%. In order to meet the new forecast range, it is logical to reduce the rate by a maximum of 50 bps by the end of this year. Market participants expected a continuation of smooth easing, but received a pause signal," the expert concluded.

He noted that along with the task of reducing inflation, it is equally important to avoid a slowdown in the economy. According to Loboda, GDP growth in the current period may amount to 0.5–1.5%, while steady inflation, taking into account seasonal factors, remains at 4-5%, but the target has not yet been reached against the background of a noticeable increase in the federal budget deficit.

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On April 24, the press service of the Central Bank of the Russian Federation reported that the members of the Board of Directors decided to reduce the key rate by 50 basis points to 14.5% per annum. The statement noted that the dynamics of domestic demand has now approached the opportunities for a potential expansion of the supply of goods and services, while the indicators of steady price growth have remained in the range of 4-5% in annual terms.