Russian central bank increases interest rates to 16% ...News

Russia Today - Economy
Russian central bank increases interest rates to 16%
source : Russia Today ( News ) () 22
The fifth hike since summer comes amid high inflationary pressure, according to the regulator The Bank of Russia on Friday raised the key rate by 100 basis points to 16% per annum, explaining that current inflationary pressures remain high. It’s the fifth hike in a row since summer, when the rates were at 7.5%. According to the regulator's statement, persistent inflationary pressures have increased in recent months due to domestic demand more potently exceeding the economy’s capacity to expand the production of goods and services than the Bank of Russia’s previous estimates. Given the monetary policy stance, annua

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