Deputy Delyagin called the increase in the key rate expected
The Central Bank’s increase in the key rate by two percent was expected, said Deputy Chairman of the State Duma Committee on Economic Policy Mikhail Delyagin. The deputy spoke about the changes in the key rate in a conversation with Lenta.ru.
“This was expected. At least, I wrote about it several days ago everywhere I could. This was expected at the moment when the Russian Guard told the deputy chairmen and other heads of the Bank of Russia that it was ready to grant them the right to carry weapons. After that, it became clear that it was not just about an increase, but an increase of more than one percentage point. All this was predictable,” Delyagin said.
At the same time, the deputy predicted another increase in the key rate in the fall. “This is only the beginning,” he concluded.
On Friday, July 26, the Central Bank decided to raise the key rate to 18 percent per annum. In addition, the Central Bank’s inflation expectations for 2024 changed dramatically – from 4.3-4.8 to 6.5-7 percent. For 2025, the regulator’s forecast worsened from 4 to 4-4.5 percent.
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