The Russian Central Bank will lower the key rate on June 15 by 1 percentage point — from 12.5% to 11.5%, according to 9 out of 15 analysts, interviewed by TASS. According to them, the decision of the Central Bank will be based on the need to further support economic growth; at the same time the risks of a new devaluation limit the appetite of the Central to reduce rates. This will be the fourth consecutive reduction of the key rate. This year the Central Bank has already lowered the rate three times — by 4.5 percentage point in total.
Economists once again unanimously agree that the regulator will reduce the rate — 9 experts (from VTB Capital, Sberbank, Deutsche bank, Gazprombank, Metallinvestbank, Raiffeisenbank, BCS, Renaissance Capital and Alfa Bank) believe that the rate will be reduced by 1 percentage point to 11.5%, 3 more (Credit Suisse, IDF Kapital and Uralsib Capital) believe the rate will be reduced by 0.5 percentage points to 12%, 2 (HSBC Bank and ING) predict the rate at 11%, another analyst at Nordea expects to see key rate at 11.75%.
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