Russia's central bank kept its key interest rate at 20% on Friday following an emergency rate hike in late February and warned of an imminent spike in inflation and a looming economic contraction.
High inflation dents living standards and has been one of the key concerns among households for years. Higher rates help tame inflation by pushing up lending costs and increasing the appeal of bank deposits.
The rouble weakened after the rate decision to 104.35 against the dollar from levels around 103 seen shortly before the announcement. Elvira Nabiullina, governor of the central bank, will shed more light on the central bank's forecasts and monetary policy plans at an online briefing at 1400 GMT.VTB Capital analysts said the central bank is expected to keep rates unchanged until mid-2022 and lower them to 16% by year-end.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Russian central bank keeps policy rate unchanged at 20% as expectedThe Bank of Russia announced on Friday that it left the policy rate unchanged at 20% as expected. Key takeaways from policy statement 'Proinflationary
Consulte Mais informação »
Russia Central Bank Warns of ‘Large-Scale Structural Transformation' for Economy, Holds Rates at 20%The Central Bank of Russia on Friday held its monetary policy steady and maintained its key interest rate at 20%.
Consulte Mais informação »
Russia-Ukraine live updates: Russian forces 'struggling' with terrain: UK militaryLATEST: - UN Security Council to hold emergency meeting Thursday - Ukraine says it's trying to launch counter-attacks on edge of Kyiv - Biden calls Putin a 'war criminal' for 1st time - Kidnapped Melitopol mayor freed from Russian captivity
Consulte Mais informação »
Russia-Ukraine war: Russian forces keep up attacks amid continued talksUkrainian President Volodymyr Zelenskyy has invoked Pearl Harbor and 9/11 during an urgent appeal to the U.S. Congress for more weapons to stem the Russian assault.
Consulte Mais informação »
In Friday Call, Biden Looks to Assess Where China's Xi Stands on Russia WarPresident Joe Biden and China’s Xi Jinping are set to speak on Friday as the White House warns Beijing that providing military or economic assistance for Russia’s invasion of Ukraine will trigger severe consequences from Washington and beyond.
Consulte Mais informação »