In the statement released by the bank, it was noted that the decline in the rate of price increases in the country has stalled.
The statement, which included information that the increase in domestic demand significantly exceeds the possibilities for increasing the production of goods and services, stated: "The Central Bank of Russia has decided to keep the policy rate unchanged at 16 percent."
Market expectations were for the Central Bank of Russia to keep the policy rate steady.
SIGNAL FOR INTEREST RATE HIKE GIVEN
The statement also signaled that the bank may raise interest rates at its next meeting.
The Central Bank of Russia last decided to raise the policy rate by 100 basis points to 16 percent in December 2023.
News Source: 12punto
