VTB Bank CEO gives cbank’s key rate forecast

VTB Bank CEO gives cbank’s key rate forecast

The key rate of Russia’s central bank may contract to 6–6.75% annually until the end of 2018, CEO of the VTB bank, Andrei Kostin, said on the sidelines of the World Economic Forum in Davos.

"If we look at the previous stories and inflation dynamics, I think that further contraction to the level of 6% or 6% plus quarters (of a percentage point) is fairly possible," Prime agency cited him as saying..

In 2017, the regulator reduced the rate six times to 7.75% annually. The authority sees the equilibrium key rate at 6.5–7%, and expects to reach it in 2019.

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