Russia’s central bank on Friday left its key interest rates unchanged at 21%, citing monetary tightness as Moscow wages its ongoing battle with…
Russia's central bank on Friday unexpectedly left its key interest rates unchanged at 21%, citing improved monetary tightness that had created the conditions to tame sky-high inflation.
Markets had widely expected the central bank to hike interest rates by another 200 basis on Friday, after taking such a step in October.Russia's central bank on Friday unexpectedly left its key interest rates unchanged at 21%, citing improved monetary tightness that had created the conditions to tame sky-high inflation.
Markets had widely expected the central bank to hike interest rates by another 200 basis on Friday, after taking such a step in October amid an ongoing effort to subdue inflation stoked by the military costs of Moscow's invasion of Ukraine and by Western sanctions against its key commodity exports. Russia's consumer price index hit 8.9% in November on an annual basis, up from 8.5% in October. The increase was largely driven by rising food prices,Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weekly
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