Russia's largest lender Sberbank expects the key rate of the Bank of Russia at the end of 2020 at 4 percent, but predicts its return to 5 percent by late 2021
MOSCOW (Pakistan Point News / Sputnik - 30th July, 2020) Russia's largest lender Sberbank expects the key rate of the Bank of Russia at the end of 2020 at 4 percent, but predicts its return to 5 percent by late 2021.
According to Sberbank's forecast, the central bank's key rate will be 5.5 percent at the end of 2022.
In July, the Bank of Russia cut its key rate for the third time in a row, by 25 basis points, to 4.25 percent per annum, new historical law. The central bank's governor, Elvira Nabiullina, then noted that there still was potential for another key rate cut in 2020.
