The expert made a forecast for the key rate until the end of 2025

Mikhail Vasiliev, chief analyst at Sovcombank, is confident that CS will not fall below 15% by the end of the year, and in general, the high-interest period will last until the end of next year. Nevertheless, most small and medium-sized business sectors are experiencing a revival in lending in the summer and autumn of 2025.

"A long-term high rate (from 15% and above) will support tight monetary policy, stimulate savings, and restrain consumption and investment. This means that loans will remain expensive for businesses and the public, but deposits will remain attractive. At the same time, inflation will decrease from 8.1% to about 6.2% by the end of the year, due to the strong ruble and stable fiscal policy. Economic growth is expected to slow down to about 0.8% in 2025, compared to 4.3% a year earlier," the analyst concludes.

Read the details in the Izvestia article:

"The key game: why the Central Bank's rate won't fall below 15% this year"