MOSCOW, March 17 A possible increase in the key rate by the Central Bank at the next meetings may stimulate new investors to delay opening an account, but it’s still not worth keeping money at home in order to do not miss the profit, says the head of the Bank of Russia Elvira Nabiullina.
Answering a question at a press conference, she ironically noted that some Russians are looking forward to raising the key rate with hope.
“We really gave a signal that we can raise the rate if pro-inflationary risks grow. There is a possibility of a rate increase, but this is not predetermined,” she said.
Nabiullina pointed out that people who decide whether or not to deposit their money should first of all think about their financial goals.
“You can wait for a rate increase, which may not happen. But during this time, if you keep money at home, you will lose the interest income that you could receive if you deposited money now. This, of course, must be considered and measure it,» the head of the Central Bank explained.
On Friday, the Bank of Russia, as expected, kept its key rate unchanged, leaving it at 7.5 percent per annum for the fourth time in a row. The Central Bank put the key rate cut cycle on hold in October, leaving it at 7.5 percent per annum. The regulator also did not change it in December and February.
At the same time, in its key rate release, the Bank of Russia kept the signal for further action: if pro-inflationary risks increase, it will assess the advisability of raising it at the next meetings.