Analyst Tumin called it expected that the key rate would remain at 16%

“In my opinion, there could be no surprise here, since Elvira Nabiullina previously said that space for reducing the key rate this year should be expected in the second half of the year,” the expert explained.

He recalled that banking products traditionally respond to the key rate of the Central Bank.

“When the key rate is high, it is more profitable for credit institutions to attract funds for deposits; when the key rate is low, it is more profitable to issue loans. But since now it has remained unchanged, I also do not expect any changes in the banking sector,” emphasized the director of markets in Russia and the CIS fam Properties.

Earlier, Freedom Finance Global analyst Vladimir Chernov, in a conversation with RT, commented on the Bank of Russia’s decision to maintain the key rate at 16%.