The Central Bank will consider a wide range of options for changing the key rate in December 
The Central Bank will consider a wide range of options for changing the key rate in December. This was stated by the head of the monetary policy department of the Bank of Russia Kirill Tremasov at the International Forum of the Moscow Exchange, RIA Novosti reports.
“I think that at the December meeting on the board of directors' table there will be a wide range of options rates, “he said. According to Tremasov, the Central Bank is determined to bring inflation closer to 4 percent at the end of 2022.
The last meeting of the Central Bank on the key rate this year will be held on December 17. At the October meeting, the Central Bank immediately raised the rate by 0.75 percentage points – up to 7.5 percent per annum.
At a speech in the State Duma in mid-November, the chairman of the Central Bank Elvira Nabiullina said that high inflation threatens to destroy the well-being of people. According to the baseline scenario of the Central Bank, inflation by the end of 2021 should not exceed 7.9 percent, and next year it is expected to decrease to 4-4.5 percent. To achieve this goal, the average annual key rate in 2022 will remain at the level of 7.3-8.3 percent.
Nabiullina also said that the key rate will remain above the neutral range of 5-6 percent until at least mid-2023 of the year. Keeping the rate above neutral will ensure a steady slowdown in inflation, she said.