VTB lowered its forecast for the average key rate to 19.1% for 2025

VTB Bank has revised its forecast for the average key interest rate from 21% to 19.1% for the current year. This was announced on July 31 by Dmitry Pyanov, First Deputy President and Chairman of the VTB Management Board, during a briefing on the bank's results for the first half of the year.

"If we had previously planned that the 21 percent rate would remain unchanged for the whole year, now we have reflected all the known reductions from the beginning by one percentage point, then by two percentage points. We assume several more reductions, respectively, and include in the forecasts of July 31 an average increased rate of 19.1%," TASS quoted him as saying.

The assessment of lending dynamics was also adjusted. Previously, the bank expected the total loan portfolio to grow in the range of 7-9%, but the forecast has now been lowered to 6%.

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On July 30, Georgy Ostapkovich, research director of the HSE Center for Market Research, admitted that the Central Bank may reduce the key rate to 16% by the end of the year. He noted that much will depend on the economic situation, market conditions and geopolitical factors. At the same time, on July 25, the Central Bank lowered the key rate from 20% to 18% per annum.

On July 25, the Central Bank lowered its key rate from 20% to 18% per annum. This is the second consecutive decrease in the last two months: earlier, on June 6, the regulator cut the rate by one percentage point. The next meeting, which will decide on the key rate, will be held on September 12.

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