Bank of Russia Holds Rate at Record High Amid Inflation Fight

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Bank of Russia Holds Rate at Record High Amid Inflation Fight

Russia’s central bank kept borrowing costs at a record high for the second meeting, though held open the prospect it could tighten monetary policy at its next meeting to fight persistent inflation.

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Russian Central Bank Maintains Interest Rate at 21% in Response to Persistent Inflation - Economic Scenarios

For the second time in a row, the Central Bank of Russia has decided to leave the reference interest rate unchanged , confirming it at the record value of 21% per year . This decision, announced on Friday as expected by analysts, is a direct response to the persistently high inflationary pressure plaguing the Russian economy. The Central Bank describes this inflationary pressure as "sustainable", underlining that its origin lies in strong domest…

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As expected, the Russian central bank left its key interest rate unchanged at 21 percent. The Russian central bank on Friday, in line with market expectations, ... ...

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Russian central bank sharply raises inflation forecast

Russia's central bank sharply raised its inflation forecast for 2025 on Friday, warning there was no sign rocketing price increases would go into reverse. Prices are now expected to go up between seven to eight percent this year, compared with an earlier forecast for 2025 of between 4.5 to five percent, the central bank said in a statement.

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The war in Ukraine is causing prices in Russia to rise sharply. Central Bank head Elvira Nabjullina is therefore increasing her inflation forecast – and keeping interest rates at a high level.

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Russia's central bank keeps interest rates unchanged. The Russian central bank decided on Friday to keep its key interest rate at a record 21 percent despite the fact that prices in Russia are still rising rapidly. Reuters reported on the bank's decision. The key interest rate was raised to 21 percent in October. Official inflation in Russia was 9.5 percent last year, but the reliability of the figures from the country's statistics agency Rossta…