Central Bank raised key rate to 15%
Following the meeting of the Board of Directors of the Bank of Russia today, the key rate was increased by 2 percentage points at once - to 15% per annum. The new rate will come into effect on Monday, October 30.
The Central Bank's release explains that current inflation pressure has increased significantly and is higher than the regulator's expectations - according to estimates as of October 23, annual inflation increased to 6.6% after 6% in September.
Demand in commodity markets is growing steadily, and unsecured lending is growing.
Bringing inflation under control will require “an extended period of maintaining tight monetary conditions in the economy.”
The inflation forecast for 2023 is 7–7.5%.
As Bashinform News Agency reported, in the republic in September, annual inflation amounted to 4.5%. On average, in the Volga Federal District, the figure was 5.5%, on the whole - 6%.
Author: Elina Akhmetova
www.bashinform.ru
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