NEYVA Bank: CRB Needs More Stability to Make Key Rate Decisions

20 March 2020 (09:07)

UrBC, Yekaterinburg, March 20, 2020. NEYVA Bank’s experts believe the CBR needs ‘a more stable picture’ to make any key rate-related decisions at tomorrow’s meeting.

Now the Russian Central Bank’s Board of Directors is scheduled to meet on Friday, March 20; the meeting will dwell on the further key rate policy and on the country’s entire monetary and lending policy. Finance analysts believe the CBR’s key rate is highly likely to remain the same (6% p.a.) or to go up by 0.25% to 0.5%. Both the CBR and the Russian Government announced earlier that tax relief measures would be in order to support the national economy in times of the COVID 2019 pandemic.

‘There’s a wide range of opinions as to how the CBR’s key rate could fluctuate further on, but we believe that, given the current development of affairs, the bank will keep the key rate at its current level, as a more stable picture is needed to make any decisions,’ Vice Chair of the Board at NEYVA Bank Igor Koshmin told UrBC.

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