The Central Bank kept the key rate at 7.5% per annum for the fourth time in a row.
The Central Bank also announced the possibility of its increase in a situation of increased pro-inflationary risks, follows from the message of the regulator.
“The Board of Directors of the Bank of Russia decided to keep the key rate at 7.5% per annum. The current price growth rates remain moderate, including in terms of sustainable components,” the bank said in a statement.
Along with this, the Bank of Russia noted a significant decline in inflationary expectations of the population, but emphasized that they remain at an elevated level.
According to information from the Central Bank, operational data indicate a continuing recovery in business and consumer activity. In addition, according to the regulator, operational data in the first quarter of 2023 also indicate a recovery in economic activity.
The Central Bank reports that in the event of increased pro-inflationary risks, the question of the advisability of raising the key rate will be raised at the next meetings.
Prior to that, in February 2023, it was reported that the Central Bank of the Russian Federation kept the key rate at 7.5% per annum.
