Gref said he expects the ruble to weaken by the end of the year.
By the end of the current year, 2025, the ruble is expected to weaken, including because of a reduction in the key rate. This was told to journalists on the sidelines of the X Eastern Economic Forum by the head of Sberbank, Herman Gref, TASS reports.
“By all our estimates, the [ruble] exchange rate should weaken by the end of the year, which will reduce risks for exporters and the budget,” the banker informed.
According to Gref, the weakening of the Russian currency will, in particular, be aided by a reduction in the key rate.
Sberbank’s latest macro forecast indicates that the national currency will weaken to 90 rubles per US dollar by the end of this year, the agency notes.
At the same time, according to Gref’s assessment, the key rate at the end of 2025 will be approximately 14%, which, in his view, is insufficient to revive the country’s economy.
“...at current inflation levels the rate at which one can hope for an economic revival is 12% and lower,” he explained, adding that the Bank of Russia will do everything possible to prevent the economy from slipping into recession.
New inputs for the Central Bank’s board meeting, where a decision on the key rate will be made, imply its further reduction by at least two percentage points, Kommersant notes.
Photo: kremlin.ru
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