28 Oct 2022 15:30

Russian Central Bank updates forecast for average rate in 2022 to 10.6%, keeps forecasts for 2023-2024 unchanged

MOSCOW. Oct 28 (Interfax) - The Central Bank of Russia has updated its forecast for average key rate in 2022 to 10.6% from the 10.5%-10.8% expected in July and left its forecasts for 2023 and 2024 unchanged at 6.5%-8.5% and 6%-7%, the Central Bank said in its medium-term macroeconomic forecast published following a meeting of the bank's board of directors on the key rate.

The Central Bank expects an average rate of 5%-6% in 2025.

The bank is now projecting an average rate of 7.4%-7.6% until the end of 2022, having projected 7.4%-8% in July.

The Central Bank in June forecast an average key rate of 10.8%-11.4% in 2022, 7%-9% in 2023, and 6%-7% in 2024.