MOSCOW, November 9. /TASS/. The Russian Central Bank’s key rate will decline in 2027, but will remain in the double-digit range throughout the entire year in the regulator’s baseline scenario, Governor Elvira Nabiullina said.
"We are firmly committed to reducing inflation and bringing an end to the period of high inflation. <…> In our baseline scenario, [as outlined] in Monetary Policy Guidelines, the key interest rate will remain in the double-digit range throughout the entire coming year, though set to decline," she said, addressing the State Duma (lower house of the parliament).
Faster growth in supply will allow for a more rapid reduction of the key interest rate, the regulator’s chief added. "The supply of goods and services needs to grow more rapidly for the gap between the demand for and the supply of goods and services to close more quickly, so that we can lower the key interest rate faster," she said.
Meanwhile, the growth of credit should remain moderate in 2027, at roughly the same level as this year, Nabiullina noted.