Meteorologia

  • 19 MAIO 2024
Tempo
20º
MIN 12º MÁX 21º

Russia's central bank keeps key rate at 16% for third time in a row

The Central Bank of Russia (CBR) kept its key rate at 16% for the third time in a row today, after reiterating that inflationary pressure has eased, although it remains high, it was announced today.

Russia's central bank keeps key rate at 16% for third time in a row
Notícias ao Minuto

12:58 - 26/04/24 por Lusa

Economia Rússia

"As domestic demand continues to be strong and exceeds the possibilities of expanding the supply, so inflation will return to the target more slowly than expected," the Russian regulator said in a statement.

According to the CBR, "the return of inflation to the target and its further stabilization at levels close to 4% imply a longer period of monetary restriction than previously expected."

"The CBR increased its forecast for the average key rate in 2024 and 2025 to 15%-16% and 10%-12%, respectively.

The CBR's monetary policy will help consolidate the disinflation process in the Russian economy," the regulator added.

However, the regulator noted that the growth in consumer prices in March was 4.5% year-on-year, against 6.3% in February.

The Bank said that in the first quarter of 2024, the Russian economy "continued to grow faster than expected" and predicted GDP growth in 2024 of 2.5%-3.5%.

The next CBR monetary policy meeting will be held on June 7.

Read Also: Inflation? Bank of Japan revises forecast upwards, but maintains interest rates (Portuguese version)

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