OREANDA-NEWS The Central Bank of the Russian Federation pointed to an absolutely atypical situation, recording a simultaneous increase in consumption and savings among Russian citizens, due to high income growth rates.

According to analysts of the regulator, significant indexation of social payments and traditional bonuses at the end of the year turned out to be additional incentives at the beginning of 2024.

At the same time, the Bank of Russia stressed that in order to significantly slow down inflation, the advantage should be in the direction of saving behavior, not consumption.

According to representatives of the Central Bank of the Russian Federation, in the near future the impact of tight monetary conditions on savings and credit activity will be especially noticeable. A higher key rate level is required to return inflation to the target level of 4%.

Earlier, ABN24 reported that the Bank of Russia named a condition for lowering the key rate and easing monetary policy. According to representatives of the regulator, it is important to ensure a steady slowdown in inflation and a decrease in consumer activity.