Sberbank CEO Herman Gref said on the sidelines of the WEF that the current level of the key rate of 12% set by the Bank of Russia is not a very long story that will not last long. Moreover, according to him, in the coming months the regulator will move to easing the policy.
Recall that in August, during an extraordinary meeting of the Board of Directors, the Central Bank of the Russian Federation raised the key rate to 12% per annum. Later it was stated that if pro-inflationary risks intensify, it will be further increased.
Commenting on the situation in a conversation with the media, Gref suggested that this is "not a very long story" and that the Central Bank knows how to deal with this kind of inflationary surges. In this regard, he said, everything will become clear in the coming months.
"I don't think it's seriously going to go any further. I think within three months it will be clear how the situation will develop," Gref said.