Central Bank of Russia announces interest rate decision

The Central Bank of Russia has decided to keep interest rates unchanged. Policymakers held the key interest rate at 16% for the second consecutive meeting.

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Central Bank of Russia announces interest rate decision

The Central Bank of Russia stated in its announcement, "The return of inflation to the target in 2024 and its stabilization at a level close to 4% assumes that tight monetary conditions will continue in the economy for a long period."

Inflation in Russia was 11.9% in 2022 and 7.4% in 2023. Economists expect inflation to remain well above the central bank's target this year.

Central Bank of Russia Governor Elvira Nabiullina will provide an assessment of the decision at a press conference to be held in Moscow at 15:00.

News Source: 12punto