Economics
Russian Central Bank Leaves Key Interest Rate Unchanged
- Majority of 36 analysts predicted benchmark will stay at 11%
- Inflation expectations still pose a challenge for central bank
Inflation May Hold Challenges for Russia Central Bank
This article is for subscribers only.
Russia’s central bank left its benchmark interest rate unchanged for a third consecutive meeting as a slump in oil prices triggered a new bout of ruble weakness, raising the risk of faster inflation.
held the one-week auction rate at 11 percent, the Bank of Russia said in a statement on Friday. Twenty-two of 36 economists predicted the move, with the rest forecasting a reduction of 50 basis points, according to a Bloomberg survey. The central bank said it will restart easing if price growth slows in line with its forecasts and inflation risks recede.