Central Banks
Russia Holds Rate With Inflation in Focus Before Vote
- Key rate kept at 16% in line with forecasts of all economists
- Policymakers give no guidance on likely direction of next move
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Russia’s central bank held interest rates unchanged for the first time since June, as it pivots from a cycle of monetary tightening that more than doubled borrowing costs in the second half of last year.
Meeting for the last time before March presidential elections, policymakers left their key rate at 16% on Friday, in line with the forecasts of all economists surveyed by Bloomberg.