Reported about 1 month ago
Elvira Nabiullina, the Governor of Russia's Central Bank, announced a significant rate hike to 21%, the highest since February 2003, emphasizing that the decision stems from ongoing inflation pressures and economic imbalances. She indicated the possibility of further increases depending on economic data, while also addressing business criticisms regarding high rates and the risks of excessive credit leading to volatility. Nabiullina noted that while inflation is high, there are no immediate recession risks, and the central bank aims to stabilize the economy.
Source: YAHOO