But on the eve of the Agency “National credit ratings” (NKR) stated: the Bank of Russia can stop the cycle of decline in the key rate before year-end in connection with the acceleration of inflation.
“given the inflation dynamics, the Bank of Russia at the regular meeting of the Board of Directors on July 24, can lower the rate on a symbolic 0.25 percentage points, or to refuse further reduce and maintain the rate at its current level until the end of the year. More decisive action to mitigate the monetary policy is possible only if key economic indicators such as GDP, industrial production, unemployment will be much worse than current expectations”, – stated in the message of Agency.
However, at a meeting on the national projects of President Vladimir Putin discussed the opportunities of accelerating economic growth in many areas. In particular, housing construction can increase the pace of housing construction with further reduction in mortgage rates. The promise of Elvira Nabiullina to consider further reduction in the key rate will facilitate this task.