Starting April 11, the Bank of Russia's key rate will be reduced to 17% per annum

This decision was made by the Board of Directors of the Central Bank of the Russian Federation. This became possible largely due to the measures taken to control capital flows, which helped curb the growth of financial instability risks. The tightening of economic conditions is being partially offset by the monetary policy of the Bank of Russia and the Government of the Russian Federation, for example, through lending support programs. According to weekly data, the rate of price growth has slowed down, partly due to the ruble exchange rate. However, the inflation rate will continue to rise due to the base effect. Another good indicator is the steady growth of term deposits.

The next Board of Directors meeting to determine the key rate will take place on April 29; the decision made will again reflect risks to the economy, the reaction of financial markets to them, and inflation dynamics. A further rate cut is not excluded.