MOSCOW, December 11. In view of the increased volatility markets pause in the reduction of interest rates by the Central Bank seems to be correct. This opinion was expressed by the representative of the Ministry of economic development, commenting on the decision of the Bank of Russia to keep the key rate unchanged at 11%.
“According to our estimates, the balance of risks of inflation and recession suggests the possibility of gradual reduction of the rates. However, in the conditions of sharply increased volatility of emerging and commodity markets pause in the decline in rates is justified,” he said.
As reported, the Board of Directors of the Bank of Russia on the last in this year meeting, kept its key rate unchanged at 11% for the third time in a row amid increased inflation risks due to Turkish predamage, the slowdown of the Chinese economy, the implementation of the “Plato” and other risks. Thus, the rate remained unchanged since August 3 this year.
At the briefing the head of the Bank of Russia Elvira Nabiullina promised that one of its next three meetings (29 January, 18 March and 29 April) the Central Bank may reduce its key interest rate when the inflation forecasts.