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Bank of Russia expects return to neutral key rate range in 2025, says regulator’s chief

It is stated that the potential upgrade in the neutral rate estimation in July is not ruled out

MOSCOW, March 17. /TASS/. The Bank of Russia expects the return to the neutral range of the key rate in 2025, the regulator’s chief Elvira Nabiullina told a press conference following its board meeting on Friday.

"The range of the average key rate for this year stands at 7-9% per annum and we expect the return to the neutral range in 2025," she said.

The potential upgrade in the neutral rate estimation in July is not ruled out, Central Bank Governor added.

The Central Bank kept the key rate at 7.5% per annum for the fourth time running at its board meeting on Thursday, noting the rate increase possibility should pro-inflation risks intensify. The next rate review meeting is scheduled for April 28, 2023.

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Central Bank of Russia

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