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The Central Bank of Russia does not ease the policy

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The Central Bank of Russia does not ease the policy
March 20
13:00 2020

The press service of the Central Bank of the Russian Federation has issued an important message. It says that the regulator has kept the current value of the key rate at 6%.

Representatives of the Central Bank noted that all subsequent decisions to change (or maintain) the key rate would be made taking into account current inflation and risks in the financial markets (internal and external).

The regulator also says that due to the vagaries of the energy market, the actual state of affairs in the economy is very different from the baseline forecast.

The agency continues to insist that the collapse of the national currency is a temporary phenomenon. Analysts of the Central Bank of the Russian Federation believe that in a year inflation will return to the target level of 4%.

The regulator also spoke about the dynamics of Russia’s GDP. The Central Bank has formulated the forecast as streamlined as possible, saying that the coronavirus pandemic will replace the moderate growth of the Russian economy with a moderate decrease. The regulator assures that the situation is under control and the package of measures that were developed by the Central Bank of the Russian Federation together with the government will be able to keep the Russian economy afloat.

Representatives of the Central Bank of the Russian Federation emphasized that the regulator’s goal was to maintain access to lending small and medium-sized businesses. What is more, their activities are aimed at protecting individuals whose interests were affected by the pandemic.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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