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Russian central bank hikes rates to fight inflation fueled by military spending in growing economy

  • Russia’s central bank has raised its key interest rate by 1% to 19% to address high inflation caused by military spending impacting the economy's production capacity.
  • Higher rates are meant to make borrowing more costly, potentially reducing inflation, but economists warn this could also slow economic growth.
  • Despite efforts, the central bank faces challenges in combating inflation as government spending continues to exert pressure on prices.
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The IndependentThe Independent

Russian central bank hikes rates to fight inflation fueled by military spending in growing economy

Russia’s central bank has raised its key interest rate by a full percentage point to 19% to combat high inflation as government spending on the military strains the economy’s capacity to produce goods and services and drives up workers’ wages

·London, United Kingdom
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Associated Press NewsAssociated Press News

Russian central bank hikes rates to fight inflation fueled by military spending in growing economy

Russia’s central bank has raised its key interest rate by a full percentage point to 19% to combat high inflation as government spending on the military strains the economy’s capacity to produce goods and services and drives up workers’ wages.

·United States
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Global NewsGlobal News

As war in Ukraine worsens inflation, Russian central bank hikes rates

Rising wages and a strong jobs market have helped shoppers compensate for inflation and as a result “consumer activity remains high,” the central bank said.

·Toronto, Canada
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abc Newsabc News

Russian central bank hikes rates to fight inflation fueled by military spending in growing economy

Russia’s central bank has raised its key interest rate by a full percentage point to 19% to combat high inflation as government spending on the military strains the economy’s capacity to produce goods and services and drives up workers’ wages

·United States
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KIFIKIFI

Russian central bank hikes rates to fight inflation fueled by military spending in growing economy

MOSCOW (AP) — Russia’s central bank has raised its key interest rate by a full percentage point to 19% to combat high inflation as government spending on the military strains the economy’s capacity to produce goods and services and drives up workers’ wages. The central bank said in a statement Friday that “growth in domestic demand is still significantly outstripping the capabilities to expand the supply of goods and services.” It held out the p…

·Idaho Falls, United States
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GloboGlobo

BC of Russia raises interest rate to 19% and does not rule out further increases ahead

For the monetary authority, inflationary pressures “remain high”

·Brazil
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