The Central Bank kept the key rate at the same level – 4.25 percent per annum, according to a statement on the regulator’s website. The decision was expected by market participants.

In the message, the decision is based on the fact that the demand recovery is faster and more sustainable than previously expected. Meanwhile, there are restrictions on the supply side, which “continues to exert increased pressure on prices.” Therefore, the regulator sees no reason to further reduce the rate.

At the same time, there are no conditions for raising the rate, insofar as the risks of rising prices and inflationary expectations of the population have decreased since the December meeting of the Central Bank. The Central Bank expects that by the end of the year inflation will not exceed the base level of four percent.