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From: Denc 🗡
I wonder how a bank makes such profits… On 22 March 2024, the Bank of Russia Board of Directors decided to keep the key rate at 16.00% per annum. Current inflationary pressures are gradually easing but remain high. Domestic demand is still outstripping the capabilities to expand the production of goods and services. Labour market tightness has increased again. For the moment, it is premature to judge the pace of future disinflationary trends. The Bank of Russia’s monetary policy is set to solidify disinflation processes unfolding in the national economy. The return of inflation to target in 2024 and its further stabilisation close to 4% assume that tight monetary conditions will be maintained in the economy for a long period. According to the Bank of Russia’s forecast and given the monetary policy stance, annual inflation will decline to 4.0–4.5% in 2024 and will stabilise close to 4% further on.

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