Russia’s Central Bank likely to raise key rate to 23 percent in December, analysts predict

Source: Meduza

Analysts widely expect Russia’s Central Bank to raise the key interest rate to 23 percent at its December 20 meeting, according to a consensus forecast by RBC.

Of the 30 analysts surveyed, 23 anticipate a 200-basis-point hike to 23 percent. Four believe the Central Bank could take a more aggressive step, raising the rate to 25 percent, while one predicts an increase of 300 basis points, to 24 percent. Only two suggest the rate might remain unchanged at 21 percent.

If the Central Bank tightens monetary policy as expected, December’s hike would mark the fourth consecutive increase, once again setting a new record high for the key rate.

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Russia’s Central Bank likely to raise key rate to 23 percent in December, analysts predict

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Key rate

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