Central Bank of Russia expects key rate to return to neutral level of 5-6% in 2025

MOSCOW. Aug 12 (Interfax) - The Central Bank of Russia forecasts the key rate will fall to 5-6% in 2025, the regulator said in draft Monetary Policy Guidelines for 2023-2025.

The Central Bank has estimated key rate neutrality at 5-6%. That could be revised taking into account the changing conditions, but will be maintained at 5-6% for now, Central Bank First Deputy Governor Ksenia Yudaeva said in the middle of July.

The Central Bank estimates an average key rate of 10.5-10.8% in 2022, 6.5-8.5% in 2023 and 6.0-7.0% in 2024.