Reuters Poll Predicts Russia’s Interest Rates to Remain Unchanged Next Week, Anticipates Increase in GDP Growth for 2023

A recent poll conducted by Reuters has predicted that the Central Bank of Russia will keep its interest rates unchanged next week. This prediction is based on the country’s inflation rate, which has dropped to 5.6% in August, slightly lower than July’s rate of 5.7%. The poll also predicts an increase in the country’s GDP growth for 2023.

The Poll Results

According to the poll, all 25 analysts surveyed predicted that the key interest rate would be unchanged at 6.5%, indicating that the Central Bank of Russia is aiming to maintain the current economic stability. This decision is largely based on the inflation rate, which has been gradually decreasing since June this year.

Reasons Behind the Decision

The current inflation rate in Russia is below the Central Bank’s target of 4%, making it likely that the bank will keep the interest rates unchanged to avoid any disruption in the market. The bank is also expected to focus on maintaining the current economic stability, which has been gradually improving due to increased consumer spending and a rise in oil prices.

GDP Growth Prediction for 2023

The Reuters poll also predicts an increase in Russia’s GDP growth for 2023. According to the poll, the country’s GDP growth is predicted to reach 2.3% in 2023 from the current rate of 1.7%. The predicted growth is based on an anticipated increase in investments and a boost in the country’s non-oil exports.

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Summary

The Reuters poll has predicted that the Central Bank of Russia is likely to maintain its interest rates unchanged next week, aiming to maintain the current economic stability. The poll also predicts an increase in the country’s GDP growth for 2023, based on an anticipated increase in investments and a boost in non-oil exports. #BUSINESS