Central Banks
Russia Keeps Record High Rates to Tame Stubborn Price Growth
The Russian Central Bank headquarters in Moscow.
Photographer: Natalia Kolesnikova/AFP/Getty ImagesThis article is for subscribers only.
Russia’s central bank held borrowing costs at a historic high, damping speculation about an imminent start to easing by again signaling that it’s prepared to tighten policy to fight persistent inflation.
The Bank of Russia kept the key interest rate at 21% for a third meeting. The move was forecast by all economists surveyed by Bloomberg.