OREANDA-NEWS  The next meeting of the Central Bank of the Russian Federation on the key rate was held today. The Board of Directors decided to maintain the key rate.

"On June 7, 2024, the Board of Directors of the Bank of Russia decided to keep the key rate at 16.00% per annum," the official website of the Central Bank reports.
The last meeting on the key rate was held on April 16, 2024. Then it was decided to keep it at the level of 16.00% per annum. At the same time, the Bank of Russia admits the possibility of raising the key rate at the next meeting.

The State Duma noted that the Central Bank may begin reducing the key rate in September 2024. This can only happen if inflation in the country is under control.

Earlier, economist Vitaly Kalugin explained why the Central Bank should raise the key rate. He believes that the rate will not decrease for the next year.