Nabiullina called the timing of the key rate cut

Central Bank of the Russian Federation: a return to the neutral level of the key rate will occur in mid-2023

speeches in the State Duma, RIA Novosti reports.

The Central Bank intends to keep the key rate above the neutral range of 5-6 percent at least until mid-2023. “The return to the neutral level of the key rate – this is 5-6 percent, let me remind you – will not happen until mid-2023,” Nabiullina said. According to her, keeping the rate above neutral is necessary for a steady slowdown in inflation.

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