Russian Central Bank Rate Hike
December 17, 2021
The Central Bank of Russia has raced even harder to overtake inflation, which has climbed to 8.4% from 4.9% at the end of 2020. The latest increase by Russian monetary officials announced today is a full percentage point to 8.5% in size. This was the sixth hike since March, the total of which has equaled 425 basis points. If the economy evolves next year as laid out in the central bank’s baseline scenario, additional rate hikes appear probable. For further analysis of the thinking behind Russian monetary policy, please also see this posting.
Copyright 2021, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
Tags: Central Bank of Russia
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