What are the predictions about the Central Bank’s interest rate decision?

The Central Bank will announce its interest rate decision at 14:00 today. All but one of the economists in the Reuters and Bloomberg survey expect interest rates to be left same.

Despite global interest rate increases and inflation exceeding 73 percent in May (likely to continue its rise in the coming months), the Central Bank (CBRT) is expected to keep its policy interest rate steady at 14 percent at its meeting today.

14 of the 15 economists polled by Reuters think that interest rates will be left flat at the June Monetary Policy Board (PPC) meeting. One participant believes that the policy rate will be reduced to 13 percent.

While 25 of the 26 economists in the Bloomberg survey expected that interest rates would be left flat at today’s meeting, one economist predicted a 100 basis point cut.

INFLATION AT A 24-YEAR PEAK

Economists’ expectations indicate that the peak in inflation, which has reached a 24-year high, has not yet been seen and that the rise may last for several more months.