US EditionRussian 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.
52 Articles
52 Articles
Russia Hikes Interest Rate to 19% as War Spending Fuels Inflation
On September 13, 2024, Russia’s central bank raised its key interest rate from 18% to 19%. This marks the seventh increase in over a year, reflecting the country’s ongoing struggle with inflation. The rate hike comes as Russia grapples with the economic consequences of its war in Ukraine. Military spending has surged, straining the economy’s […]
Russian central bank raises interest rate to 19% as war spending drives inflation
The NewsRussia’s central bank tightened its monetary policy Friday, bumping the main interest rate up to 19% as Moscow’s war in Ukraine continues to put inflationary pressure on the economy.The bank warned that it could hike the rate further at its next meeting in October in an attempt to force inflation down from 9.1% to its 4% target in 2025.While Russia’s economy has continued to grow this year, an increasingly large part has been geared towa…
The Board of Directors of the Bank of Russia raised the key rate from 18% to 19% per annum.
(Moscow=Yonhap News) Correspondent Choi In Young = Russia raised interest rates by 1 percentage point to 19% per annum on the 13th (local time) in response to inflation.
The Central Bank of Russia increased the benchmark interest rate by 100 basis points due to rising inflation. Russia's central bank raised its benchmark interest rate by 100 basis points to 19% at a board meeting today, saying inflation remains persistently high and tightening is needed to bring it down. A Reuters poll of 27 analysts ahead of the decision had predicted the regulator would keep interest rates unchanged at 18 percent amid early si…
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