Analysts predicted the increase by the Bank of Russia of the key rate to 8.5% per annum

This was reported by RIA Novosti. 

“We are expecting an increase in the key rate to 8.5% on December 17,” said Denis Popov, chief analyst at Promsvyazbank.

According to him, in November, the actual inflation again exceeded the forecasts of the Central Bank and market expectations.

Igor Rapokhin, senior strategist for the debt market at SberCIB Investment Research, said about the continuing risks of unwinding an inflationary spiral due to heightened expectations of the population and business.

In this regard, he also believes that the Bank of Russia will increase the rate to 8.5%.

Earlier, the head of Sberbank German Gref expressed the opinion that the key rate of the Central Bank is not high enough for the current level of inflation.

The head of the Bank of Russia Elvira Nabiullina noted that the decrease in the key rate by the Bank of Russia may begin earlier than the baseline forecast if disinflation factors prevail - it is assumed that a return to the neutral range of 5-6% will occur in 2023.