State Duma Deputy Aksakov: The Central Bank will raise the key rate to 20% in September amid rising prices
The Bank of Russia may raise the key rate at its meeting in September from 18 to 20 percent per annum if inflation, and with it prices, continue to grow. This condition was named in an interview TASS Head of the State Duma Committee on Financial Markets Anatoly Aksakov.
“The Central Bank acts professionally, with restraint, and proceeds from the fact that one of its main tasks is to ensure the stability of the ruble, the level of inflation, and the most important instrument is the key rate,” the deputy recalled.
According to the parliamentarian, the Central Bank needs to be given new powers that will help “cool the ardor” with the help of regulatory measures. One of such measures, which the authorities may approve in the fall of 2024, is to curb the appetites of financial and credit organizations to issue loans to the heavily indebted part of the Russian population.
The consensus forecast among analysts polled by Reuters is for price growth to end the year at around 7 percent, down from 9.1 percent currently but above previous forecasts.
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