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The Central Bank of Russian raised the key rate to 7.75%

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The Central Bank of Russian raised the key rate to 7.75%
December 14
13:00 2018

The CBR has raised the refinancing rate by 25 basis points. Now it is 7.75%. Analysts did not expect a raise, hoping that the value of the rate will remain at the same level.

As the regulator notes, such a measure is preventive and is aimed at reducing inflation risks, which are still high in the short term. The Central Bank says about the uncertainty of external conditions and the situation with prices that will arise after the New Year.

Raising the rate will provide an opportunity to reduce inflation and bring it closer to the target. The Bank’s Board expects that next year inflation will remain in the range of 5–5.5%, and in 2020 it will decrease to 4%.

Further decisions about the key rate will be made taking into account the analysis of forecasts and the current situation.

Because of this decision, the ruble has strengthened slightly. Its price against the dollar has amounted to $ 66.3, against the euro- $ 74.9.

At the last meeting, the Central Bank left the rate unchanged. But earlier – in September, it also had increased by 25 points.

It will be early February when the powerful will gather regarding the key rate. A meeting in support will be held in March.

 

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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