Article

2018-09-17 Caucasus/Russia/Central Asia

Central Bank of Russia raises key interest rate by 25 basis points

Citing inflation concerns, the Central Bank of Russia announced Friday it would raise a key interest rate to 7.5 percent, by 25 basis points, according to data supplied by regnum.ru.

According to the article, inflation in Russia is expected to hit 5.5 percent, before easing to 4 percent in 2020.

The news was greeted by an improvement in the ruble exchange rate to 67.70 rubles per dollar. The new exchange rate is not expected to be permanent, as the rate raise will affect growth in the short term.

Posted by badanov 2018-09-17 00:00|| || Front Page|| [11134 views ] Top

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