Reported 6 months ago
Russia's central bank decided to keep its benchmark interest rate at 16% while suggesting that a rate hike is still possible as the economy overheats due to the war in Ukraine, leading to inflation. Governor Elvira Nabiullina is increasingly adopting a hawkish stance as economic growth and rising demand outstrip expectations. The central bank expects inflation to return to 4% by 2025 and potentially increase rates in the future to combat price growth, with analysts predicting a potential rate hike in July.
Source: YAHOO