The M2 monetary aggregate remained at the long-term average of 14%.
This does not allow the Central Bank to significantly reduce its key rate. 
But 0.5% in December is quite possible.

The volume of cash outside banks has now stopped growing, which is also a good sign for the key rate.

Currently, budget expenditures, along with inflation, have a certain downward trend, which creates an opportunity to reduce the Central Bank's key rate.

Budget expenditures have begun to fall in relative terms, and the Central Bank's key rate will slowly follow suit.

Hard times and difficulties in making money await us.

Despite volatility, average weekly inflation remains at 7-8% year-on-year.

It is now one of the best companies on the stock exchange.

But it pays dividends rather timidly, so the share price is always questionable.

The situation with Rosneft is gradually deteriorating.

The company cannot pay the dividends it has been paying.

Figure 1.

Balance sheet liquidity worsens.

Figure 2.

PhosAgro has experienced a surge in revenue over the past four years and paid out huge dividends.

These dividends even exceeded free cash flow, and balance sheet liquidity deteriorated.

Figure 1.

In the case of rapid income changes, free cash flow is not the best indicator if you are evaluating the long-term perspective and trying to make a forecast for the long future.

Free cash flow is too volatile and does not carry the memory of the past.

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Demand for cash continues to grow, and this is a bad sign for the Central Bank's rate cut.

It also means an increase in risks for legal monetary settlements and the market going into the shadows.

Gazprom's money situation has worsened, and I don't understand what the "investors" are waiting for here. The maximum possible dividends cannot exceed ten rubles for many years, and the price of the company's shares is too high.