Economics
Russia Keeps Rate on Hold, Weighs Inflation Impact of Past Hikes
- Decision was forecast by 39 of 40 economists in a survey
- Central bank raised interest rates twice late last year
A fifty ruble currency note into an online payment terminal.
Photographer: Andrey Rudakov/Bloomberg
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Russia’s central bank kept the key rate unchanged following a hike in December as a rally in the ruble and weak consumer demand tempered a spike in inflation.
The one-week auction rate was kept at 7.75 percent, according to a statement on Friday. That matched 39 forecasts out of 40 in a Bloomberg survey. One economist had predicted a quarter-point increase.