US EditionRussia raises key interest rate again as inflation and exchange rate worries continue
- The Central Bank of Russia has raised its key lending rate to 13% as inflation continues to rise and is expected to reach 6%-7% by the end of the year.
- The increase in borrowing costs aims to combat price increases and offset the impact of importing more and exporting less, especially oil and natural gas, which has been affected by defense spending and sanctions.
- Despite a mild improvement in the ruble's exchange rate, it remains significantly weaker than a year ago, which has led to a decrease in the country's trade surplus.
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Russian Central Bank Hikes Rates To 13 Percent, Issues Hawkish Guidance
Russia's central bank raised its key interest rate by 100 basis points to 13 percent on September 15, jacking up the cost of borrowing for the third meeting in succession in response to a weak ruble and other persistent inflationary pressures.
·Czechia
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Total News Sources24
Leaning Left3Leaning Right6Center9Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 17%
C 50%
R 33%
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