Central Bank raised the key rate to 16% as inflation spikes in Russia

Today, the Central Bank will determine the size of the key rate

A press release following the Central Bank meeting will be released at 13:30 Moscow time.

22 analysts out of 31 surveyed by RBC believe that the Bank of Russia will raise the rate from 15% to 16%.

Reasons for the proposed rate increase:
– acceleration of inflation,
– high inflation expectations,
— high growth rates of corporate lending and mortgage issuance

The screenshot shows what the participants in our voting think.

The Central Bank raised the key rate to 16%

This is the fifth time in a row.