MOSCOW, December 6. /TASS/. VTB CEO Andrey Kostin, talking with the Rossiya-1 TV channel, posited that the Bank of Russia may reduce the key rate either at the turn of 2025 or early in 2026, assuming inflation is under control by that time.
"Overall, I think if the trend changes and the Central Bank sees inflation going down, we might see a rate cut. But I don’t see this happening before the end of next year or even early 2026," the chief banker said.
The Bank of Russia lifted the key rate to a whopping 21% per annum at its Board meeting on October 25, the highest in the history of Russia. The Board of Directors is scheduled to meet again to discuss the key rate on December 20, 2024.