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Experts predict a rise in the key rate to 21%
Economists believe that new inflation data will force the Bank of Russia to raise interest rates by 2% from the current 19% at its next meeting. The DEITA.RU news agency believes that this will be a response to rising prices and inflation expectations of Russian residents.
Prices continue to grow, maintaining the September trend, while it is noted that annual inflation is more than twice as high as the requirements of the Bank of Russia. In the second week of October, the food, automobile, pharmaceutical, fuel, construction sectors, household appliances and services demonstrated slight growth. Price growth remains at a fairly high level. Demand has grown so much that production cannot keep up with it.
Given these and other factors, economists are almost certain that interest rates will rise. The only question is whether it will be a 1-point increase or a 2-point increase. It could be one in October and one in December, but it could also be that the central bank decides to raise interest rates significantly right away.