Putin called high Bank of Russia key rate temporary
The current key rate of the Central Bank of 16% is temporary and will change as inflation is suppressed, Russian President Vladimir Putin said at a meeting with entrepreneurs of the Far Eastern Federal District.
As Bashinform News Agency reported, on December 15, 2023, the Board of Directors of the Bank of Russia raised the key rate by 1 percentage point - from 15% to 16%. Most experts predicted just such a move.
A cascade of key rate increases has followed since July of this year. As a result, in six months, the key rate level more than doubled from 7.5%. This is how monetary authorities are trying to curb inflation and turn consumer behavior into saving behavior: a decrease in demand should also lead to a decrease in prices.
Author: Veronika Nikitina
www.bashinform.ru
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