DKP

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The Bank of Russia's monetary policy decisions, referred to as ДКП (Денежно-кредитная политика), are being closely monitored amid inflation risks, fuel supply issues in regions, and expectations of a prolonged period of tight policy. The central bank has indicated no immediate plans for easing its stance despite previous rate cuts, with the next key meeting scheduled for 24 July to release a medium-term macroeconomic forecast.

Events

• Central Bank Targets 4% Inflation by 2027 Amid Pro-Inflation Risks
• The Central Bank of Russia reduced its key interest rate from 14.25%…
• Only the timeline and pace at which we can cut rates will depend on…

Recent coverage

• Kostin believes that the Central Bank of the Russian Federation will continue to smoothly reduce the key rate — Интерфакс
• European stocks fell on Wednesday amid inflation fears and tightening of monetary policy — Интерфакс
• At the Central Bank, no obstacles were seen for the DCP, which will return inflation to the target in 2027 — Коммерсантъ
• European stock markets fell on concerns over tightening monetary policy — Интерфакс
• Central Bank of Russia published draft of main directions of macroeconomic policy, keeping July macro forecast — Интерфакс
• Purtov supported changes in the law on procurement for regions of the Russian Federation — Вечерняя Москва
• ING Group sees opportunity for Uzbekistan Central Bank to begin easing monetary policy in late 2026 — Интерфакс
• Naбиуллина states that room for cutting the key rate exists now — Интерфакс
• Ganghan: The Central Bank will not always cut the key rate by 25 basis points — Ведомости
• A 25 basis point cut in the key rate for the Central Bank of Russia will not be a major future step — Интерфакс