The Governor of the Murmansk Region, Andrey Chibis, held a working meeting with the leadership of the North-Western Branch of the Bank of Russia. The meeting took place as part of a communication session on monetary policy, which the regulator is currently holding in Murmansk. The parties discussed forecasts of economic development, the impact of the key interest rate on the economy, inflation expectations of businesses and the public, as well as the availability of credit resources for key industries in the region.
"The security of the financial system is the basis for the economy of any region. Despite external challenges, the region demonstrates economic stability, and it is extremely important for us to understand the position of the Bank of Russia in order to effectively support investment projects and resolve budgetary issues," said Andrey Chibis.
Pavel Shaptala, head of the North-Western Department of the Bank of Russia, in turn, recalled that in March the current economic situation allowed the regulator to reduce the key rate to 15% per annum. This decision was consistent – the rate has been reduced for the seventh time in a row.
"Further decisions of the regulator will depend on the sustainability of the slowdown in inflation and the dynamics of inflation expectations, as well as on the assessment of risks from external and internal conditions. We intend to act carefully. As part of the baseline forecast, the range of the average key rate for this year has been narrowed to 13.5–14.5%. From 2027, its average value will drop to 8.0–9.0%, and 7.5–8.5% per annum is expected in 2028," Pavel Shaptala emphasized.
/ Ministry of Information Policy of the Murmansk Region /