The Russian Union of Industrialists and Entrepreneurs pointed out the need to reduce the Central Bank's key rate to 18% in July.

The Russian Union of Industrialists and Entrepreneurs (RSPP) expects that in July the Bank of Russia will make a more significant decision to reduce the key rate by 200 basis points, to 18% from the current 20%, whereas in June the step was less significant. Alexander Shokhin, president of the association, told Interfax about this on July 7.

On the sidelines of the Innoprom 2025 exhibition, he stated that, in his opinion, it makes no sense to reduce the rate by one percentage point. Shokhin noted that it would be wiser to take a risk and immediately assess how a more significant decline would affect business activity, inflation and other economic indicators. According to him, the expected level is 18%.

Shokhin recalled that the Russian Union of Industrialists and Entrepreneurs had previously proposed reducing the Central Bank's key rate to 18% by September. The head of the association stressed that, given the holiday season in August, it would be wiser to make an appropriate decision in July.

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The head of the Central Bank of the Russian Federation, Elvira Nabiullina, said on July 3 that the Bank of Russia would consider lowering the key rate in July unless "unforeseen circumstances" appeared. She stressed that the Central Bank sees a slowdown in inflation, "and in a stable component" and "faster than expected in the previous forecast."