Russian central bank hikes key rate to record level ...News

Russia Today - Economy
Russian central bank hikes key rate to record level
source : Russia Today ( News ) () 66
Inflation remains “considerably higher” than expected, the regulator has said The Bank of Russia has raised its key interest rate by 200 basis points to a record high of 21%, citing persistent inflation. Domestic demand exceeds the economy’s capacity to produce goods and services to meet it, the regulator said in a statement on Friday. Inflation is “considerably higher” than the bank’s July forecast of 6.5-7.0% for this year, according to the statement. Consumer prices rose by a seasonally adjusted 9.8% year-on-year in September, following a 7.5% increase in August, it added. The regulator expects overall inflatio

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