The Central Bank pointed to the exit of the Russian economy from the overheating state

The Russian economy has emerged from a state of overheating, but there is no reason to talk about its hypothermia. This was announced on July 1 by the Central Bank of the Russian Federation.

"Some participants [in the key rate discussion] believed that the gap had not fully closed yet. According to their estimates, stable inflationary pressure remained above 4%. At the same time, all participants agreed that the available data did not give grounds to talk about a hypothermia of the economy," the document published on the bank's website says.

In addition, the summary notes that the situation in the fuel market may have a more lasting impact on inflation than in the past. It can be transferred to the prices of other goods and services through transportation and production costs.

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Dmitry Isakov, founder of Lender Invest investment platform, said on June 19 that the reduction of the key interest rate by 0.25 percentage points (to 14.25%) confirms that the Bank of Russia sees room for further monetary policy easing. This decision is largely due to a slowdown in inflationary processes and a reduction in overheating in certain sectors of the economy, while a number of risks still remain.