The Bank of Russia left the rate unchanged

The march meeting of the Central Bank of the RF ended with a decision to keep the rate at the current level of 20%. The Russian regulator noted that a significant february rate increase contributed to a slowdown in consumer price growth. The forthcoming restructuring of the Russian economy will be accompanied by an increase in inflation, which is inevitable, but will only be temporary. This situation is due to the adjustment of prices for a significant list of goods and services. Thanks to the balanced policy of the Central Bank, the RF economy will gradually adapt to new conditions, which allows inflation to stabilize at 4% in 2024. The Bank of Russia will monitor inflationary dynamics by assessing external and internal risks. Keeping the rate at the level of 20% by the central bank was expected, since most of the economists who took part in the survey before the last meeting predicted such a decision of the Bank of Russia.

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Arseny Kudrin

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