Reported 1 day ago
The Central Bank of Russia has kept its benchmark interest rate at a historic 21% despite rising inflation driven by military efforts in Ukraine. This decision comes under scrutiny from business leaders who argue that high rates hinder economic growth. While there are hopes that inflation may decline to 4% next year, the ongoing military spending and a labor shortage driving up wages are contributing to price increases. The bank's approach includes tighter lending conditions to control inflation, with further rate adjustments possible in upcoming meetings.
Source: YAHOO