The State Duma allowed the reduction of the key rate to 6.5% next year

“I think the regulator can ease monetary policy a little more if inflation really goes down and reaches 5% in 2023.

In this case, most likely, the key rate may drop to 6.5%,” he said.

Earlier it was reported that the Central Bank of Russia expectedly kept the key rate at 7.5%.

Prior to this, the ECB raised the base rate to 2.5% per annum.