Russia Set to Return Key Rate to Level Seen in Wake of Invasion
- Most economists surveyed see central bank raising rate to 20%
- Rising war spending complicates fight against inflation
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The Bank of Russia is poised to hike its key interest rate on Friday to the record level it imposed after President Vladimir Putin ordered the invasion of Ukraine, as policymakers struggle to contain rapid price growth.
The central bank will raise the benchmark at its upcoming meeting to 20%, economists surveyed by Bloomberg forecast. Only two out of 11 analysts projected the rate to remain at 19%, while some left the door open to the possibility for a bigger increase.