The Central Bank of Russia did not change its policy rate.

The Central Bank of Russia kept its policy rate unchanged at 16 percent, in line with expectations.

In the statement issued by the Bank, it was mentioned that although inflationary pressures in the country were showing a tendency to decrease, they still remained at a high level.

The statement also provided information that the year-end inflation rate was expected to be between 4 and 4.5 percent, and it was emphasized that evaluations regarding a slowdown in the inflation rate increase could not be made yet.

It was reported in the statement that domestic demand continued to exceed the production capacity of goods and services, stating, “The Central Bank of Russia has decided to keep the policy rate at 16 percent.”

The statement emphasized that the monetary policy pursued by the Bank would continue to reinforce the downward trend in inflation.

The Central Bank of Russia last increased its policy rate by 100 basis points to 16 percent in December 2023.

source: prepared by Melisa Beğiç

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button