Sberbank: Cbank to cut key rate by 0.25 pp on Fri, Jan–Mar

MOSCOW, Dec 11 (PRIME) -- National top lender Sberbank expects that Russia’s central bank will reduce its key rate by 0.25 percentage points both on Friday and in January–March 2020, thus lowering it to 6%, Oleg Zamulin, senior managing director of Sberbank’s Center for Macroeconomic Research, said on Wednesday.

“We forecast that the key rate will descend to 6.25% by the end of this week and to 6% by the end of the first quarter, where it will remain,” Zamulin said at Sberbank’s analyst day.

Central Bank Chairwoman Elvira Nabiullina said earlier that the regulator will consider further lowering the key rate at the December meeting. The central bank has already reduced the key rate four times this year – by a total of 1.25 percentage points to 6.5%.

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