The State Duma assessed the probability of raising the key rate in February

The Bank of Russia will not raise the key rate at the meeting of the Board of Directors on February 14. This was announced on February 5 by the head of the State Duma Committee on the financial market Anatoly Aksakov.

According to the deputy, high interest rates have already led to a decrease in credit injections into the economy. In recent weeks, this has allowed inflation in Russia to slow down somewhat.

"Therefore, I believe that at the next meeting the Central Bank will not raise the key rate based on the trend," he told RIA Novosti.

Moreover, Aksakov suggested, the regulator will start gradually lowering its key rate during 2025.

Long way to go: Russians' borrowing has fallen for the first time in 2.5 years

How this may affect the Central Bank's decision on the key rate

The Bank of Russia kept its key rate at 21% per annum in December 2024. The next rate meeting is scheduled for February 14. Most experts polled by Izvestia believe that the Central Bank will keep the rate at the same level.

Sergey Grishunin, Managing Director of the NRA rating service, and Natalia Bogomolova, Director of Financial Institutions Ratings of the NRA rating service, told Izvestia on January 24 that the key rate may decrease slightly in the second half of 2025, as there is a high probability that the maximum inflation rate will be reached in April.

On January 31, the Central Bank said that it would lower the key rate in case of a steady slowdown in inflation. For this, according to the regulator, a more restrained growth of demand in Russia is necessary.