Bank of Russia’s board today considered only option to keep current key rate — regulator
Elvira Nabiullina noted that during the meeting on the key rate, different opinions were voiced regarding inflation.
At today's meeting, the Board of Directors of the Bank of Russia substantively considered only the option of keeping the key rate at 16% per annum, head of the regulator, Elvira Nabiullina, said at a press conference.
"During the discussion, we had a broad consensus on the need to maintain the rate at the current level. Other alternatives were not discussed in detail. We discussed the possible trajectory of the rate and the signal on the key rate in more detail," she said.
Nabiullina noted that during the meeting on the key rate, different opinions were voiced regarding inflation.
"There were those who believe that the decline in inflation is becoming sustainable. However, there were also those who believe that pro-inflationary risks have grown, so different options were discussed, but the consensus was around a neutral signal on the key rate," she concluded.
On Friday, the Board of Directors of the Bank of Russia decided for the second time in a row to keep the key rate at 16% per annum. The board noted that current inflationary pressures are gradually easing but remain high. Domestic demand is still outstripping the capabilities to expand the production of goods and services. Labor market tightness has increased again. The next meeting of the Board of Directors of the Bank of Russia is scheduled for April 26.
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At today's meeting, the Board of Directors of the Bank of Russia substantively considered only the option of keeping the key rate at 16% per annum, head of the regulator, Elvira Nabiullina, said at a press conference.
"During the discussion, we had a broad consensus on the need to maintain the rate at the current level. Other alternatives were not discussed in detail. We discussed the possible trajectory of the rate and the signal on the key rate in more detail," she said.
Nabiullina noted that during the meeting on the key rate, different opinions were voiced regarding inflation.
"There were those who believe that the decline in inflation is becoming sustainable. However, there were also those who believe that pro-inflationary risks have grown, so different options were discussed, but the consensus was around a neutral signal on the key rate," she concluded.
On Friday, the Board of Directors of the Bank of Russia decided for the second time in a row to keep the key rate at 16% per annum. The board noted that current inflationary pressures are gradually easing but remain high. Domestic demand is still outstripping the capabilities to expand the production of goods and services. Labor market tightness has increased again. The next meeting of the Board of Directors of the Bank of Russia is scheduled for April 26.
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