VTB CEO Andrey Kostin forecast a cut in Russia's key interest rate during a conversation with journalists on the sidelines of the Eastern Economic Forum (EEF-2025).
"I believe the downward trend will continue, and the rate will keep declining",
Andrey Kostin stated.
In June, the Central Bank of Russia reduced the key rate from 21% to 20% for the first time since autumn 2022. The rate had remained at 21% for over six months.
In July, the Bank of Russia further lowered the key rate to 18%. Market analysts anticipate additional cuts at the regulator's upcoming meeting.
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