«This rate will not be eternal»: Putin's promise to Russians

The Russian president spoke on a topic that concerns a large part of the Russian population. He reported that the interest rate is expected to decrease. The high interest rate in Russia "will not be eternal," Putin promised.

Earlier, economist Denis Raksha suggested that the Central Bank might increase the key rate in the coming months. According to his statement, now, in anticipation of rising inflation, the Bank of Russia will stop reducing it. But if inflation starts to steadily increase again, the Bank will have "no other choice but to move towards tightening monetary policy," the expert explained. "The Central Bank may raise the key rate in the future. But not right now: for the time being, it will monitor inflation dynamics, and if it becomes stably positive again, the regulator will simply have no other option. However, right now the Central Bank will stop decreasing the rate precisely because it expects such a development of events," Raksha said.