Excessive expectations!Russia's central bank reduced interest rates 150 basis points

Zhongxin Jingwei, July 22. According to the Russian satellite news agency reported on the 22nd, the Central Bank of Russia issued a statement showing that the key interest rate was 1.5 percentage points to 8%.

At the end of February 2022, the anti -Russian sanctions and the turbulent financial markets intensified in foreign countries.However, from April to May this year, the central bank downgraded interest rates three times in a row, down to 11%.In June 2022, in Russia's domestic shrinkage, the Russian central bank adjusted key interest rates to 9.5%before sanctions.

The statement stated: "On July 22, 2022, the Russian Central Bank's board of directors decided to reduce the key interest rate 150 basis points to 8%."

At the same time, the Russian central bank reduced the inflation forecast in 2022 from 14-17%to 12-15%.The inflation forecast in 2023 remains unchanged and maintains a level of 5-7%.

In addition, the Russian central bank expects that Russia's GDP will decrease by 4.0-6.0%in 2022.In 2024, the increase in GDP is expected to be between 1.5-2.5%.(Zhongxin Jingwei APP)

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