Russian Central Bank adjusts average rate forecast to 7.3%-8.2%, maintains 2024-2025 forecasts

MOSCOW. April 28 (Interfax) - The Russian Central Bank adjusted its average key rate forecast for 2023 to 7.3-8.2% from 7-9% in February, based on the medium-term forecast published following the special session of the bank's Board of Directors on the rate.

The CBR predicts the average key rate from May 2 to the end of 2023 at 7.1-8.6%.

The Central Bank kept the forecast of the average key rate for 2024 at the level of 6.5-7.5%, and for 2025 at 5-6%.

On Friday, the Bank of Russia maintained its key rate at 7.5%, as expected.