The expert spoke about a possible reduction in the key rate to 12% by the end of the year.

By the end of the year, the key rate may decrease to about 12% per annum. The process of monetary policy easing will be smooth and gradual. Alexander Zaitsev, CEO and founder of Atomic Capital, told Izvestia on April 23.

"We are likely to see not drastic changes, but a gradual, step-by-step improvement in the situation, which will be driven by supporting data on inflation and indicators of economic activity. We are in a cycle of monetary policy easing that will continue throughout the year. For the market, this will mean a gradual improvement in funding conditions, reducing pressure on borrowers and supporting investment activity," the expert explained.

Among the factors supporting the rate cut, Zaitsev highlighted the external economic environment, including a possible increase in oil and gas revenues, which can reduce macroeconomic risks and support the budget. He calls the restrained dynamics of the economy with relatively stable inflation an additional argument.

Separately, the expert drew attention to the position of the authorities, focused on supporting economic growth. In his opinion, under these conditions, the Bank of Russia will strive for a balance between controlling inflation and stimulating business activity.

At the same time, Zaitsev stressed that the space for a rate cut is limited. Inflationary risks remain, and under certain conditions they may increase, including against the background of monetary policy easing. In this regard, the regulator, in his assessment, will act cautiously, assessing the effect of each step.

While the Central Bank is hitting 12: in 2026, the key rate will remain in double digits

It will not be reduced quickly, even though inflation is close to the target — is it worth carrying money for a deposit or buying an apartment

The head of the Central Bank of the Russian Federation, Elvira Nabiullina, said on March 20 that, if necessary, the further trajectory of the key rate in the Russian Federation would be determined in April. She clarified that the impact on the trajectory of the key rate is a separate factor that cannot be decisive. That is why the Central Bank takes into account changes in various factors, including the clarification of budget policy.