(Finance) – The Russian Central Bank has raised its key rate from 18% to 19%, in the face of inflationary pressures that “remain elevated”. The rate had been raised in July from 16% to 18%.
The central institute leaves the door open possibility of a further increase of the discount rate at the next meeting of the Governing Council, scheduled for 25 October.
The bank stresses, in the note accompanying the decision, that “the current inflationary pressure remains high” https://www.Finance.it/DettaglioNews/135_2024-09-13_TLB/. “Annual inflation at the end of 2024 is likely to be higher than the July forecast of 6.5-7%, and domestic demand growth significantly exceeds the capacity to expand the production of goods and services”.