The Central Bank of the Russian Federation increased the key rate by 0,25 percentage points from December 17. This was done in connection with the expectation of the maximum level of annual inflation in early 2019. Such a decision should support the ruble.
Traditionally the key rate affects the level of interest rates on loans and deposits. Most banks have already added the probability of increasing the key rate in the value of their products. Perhaps, the level of rates will be slightly adjusted, taking into account the decision of the Central Bank.
The next meeting of the Central Bank of the Russian Federation will take place on February 8. The question of the future rate depends on many factors, for example: on inflation, the geopolitical situation, sanctions, oil prices.