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Average key rate expected at around 10% in coming three years — Bank of Russia

The key rate hike to 16% eventually allows reducing inflation pressure quite promptly, which makes it possible to cut the key rate faster, Andrey Gangan noted

NOVOSIBIRSK, March 14. /TASS/. The Russian Central Bank’s average key rate will stand at around 10% in the coming three years, First Deputy Director of the regulator’s Monetary Policy Department Andrey Gangan said.

"In the coming three years the average key rate will not be at 16% (as it is now - TASS), it will be at around 10%, even lower," he said.

The key rate hike to 16% eventually allows reducing inflation pressure quite promptly, which makes it possible to cut the key rate faster, the official added.

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Central Bank of Russia

Anti-Russian sanctions

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