Central Bank repeats dovish policy signal: will consider necessity of further rate reduction at upcoming meetings
MOSCOW. Oct 23 (Interfax) - The Central Bank of Russia (CBR), which decided on Friday to hold its key rate at 4.25% per annum, maintained its dovish signal about the future course of monetary policy as well.
The regulator took the same approach as it did at its last meeting in September, when it decided to hold the rate at 4.25% and keep the signal unchanged.
The signal has not in fact changed since the July meeting, when the rate was lowered 25 basis points.
The signal from this and the last two meetings is such: "If the situation develops in line with the baseline forecast, the Bank of Russia will consider the necessity of further key rate reduction at its upcoming meetings."
Central Bank Governor Elvira Nabiullina will give her customary post-rate-decision press briefing at 3:00 p.m. Friday. Today's meeting was a so-called pivotal one, at which the rate decision and press release is accompanied by the publication of the updated medium-term forecast. The monetary policy report will be published on November 2.
The next and last rate meeting of 2020 will take place on December 18.