The Ministry of Economic Development announced the space for further rate cuts

The current dynamics of inflation in the country fits into the forecast parameters, which creates conditions for further easing of monetary policy. The 0.5 percentage point step is rather "symbolic". Lev Denisov, Director of the Department of Macroeconomic Analysis and Forecasting at the Russian Ministry of Economic Development, told reporters on October 24.

"Rosstat data shows that the current dynamics of inflation fits into the forecast trajectory. This creates space for further easing of monetary conditions," TASS quoted him as saying.

However, the ministry believes that a decrease of 0.5 percentage points does not have a significant impact. It is noted that in this situation, the proactive economic policy of the government plays a key role, aimed at the effective use of available resources — labor, investment and budget.

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On October 15, it was reported that analysts at the Central Bank of Russia raised their forecasts for the key rate for 2025 to 19.2%. So, for GDP growth in 2025, analysts lowered the forecast to 1% from 1.2%. Forecasts for 2026 and 2027 were also lowered to 1.2% and 1.8%, respectively. The forecast for GDP growth in 2028 was reduced to 1.9% from 2%.

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