Central Banks
Russia Holds Rate as Attacks by Ukraine Spur Inflation Risks
- Central bank keeps key rate at 16% for second meeting in a row
- Fuel and food prices could rise after strikes on border areas
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Russia’s central bank held interest rates unchanged on Friday, as it navigates inflation risks that now include attacks on regions bordering Ukraine.
For the second meeting in a row, policymakers left their key rate at 16%, in line with the unanimous forecasts of economists surveyed by Bloomberg. The Bank of Russia gave no guidance on the likely direction of its next move, saying “tight monetary conditions will be maintained in the economy for a long period.”