Analyst Vladimir Chernov explained the Central Bank's decision to maintain the key rate. Chernov: The regulator’s decision was expected, since the current growth rate of consumer prices is still far from the target values.
No rate cuts are expected before the second half of the year, Chernov said. According to him, in 2024 the keyRate will fall to the range of 13.5-15.5% per annum. The forecast for the beginning of the regulator's monetary policy easing cycle is shifted to the fourth quarter of 2024.