Russian central bank holds key rate at two-decade high

The overall economic situation in Russia is tense, and Washington's offer to settle the economic repression caused by the Ukraine war comes at the right time.

The Russian economy is severely damaged in the face of war in Ukraine. Inflation and key interest rates are on high and Putin is under pressure.

Russian central bank holds key rate at two-decade high

MOSCOW, Russia – Russia’s central bank kept its key rate at 21 percent on Friday, locking in two-decade-high borrowing costs as it battles rampant inflation. Prices have been rising quickly across the Russian economy for months, pushed up by massive government spending on the Ukraine conflict and deep labor shortages. READ: Russia’s central bank raises

Nabiullina on rates, rouble and foreign interest in Russian assets

(Adds new quotes marked with asterisk) MOSCOW (Reuters) -Russian Central Bank Governor Elvira Nabiullina and her deputy Alexei Zabotkin addressed a news conference on Friday after the central bank, as expected, kept its key interest rate on hold at 21%. Nabiullina and Zabotkin spoke in Russian. The quotes below were translated into English by Reuters. *NABIULLINA ON IMPACT OF ROUBLE APPRECIATION ON BUDGET For the exchange rate to have a signific…

Russian Central Bank Holds Key Rate Steady Amid Soaring Inflation

Russia's central bank held its key interest rate at 21% on Friday, maintaining unprecedented borrowing costs as the country struggles with soaring inflation.

Russia's central bank on Friday, as expected, left its base interest rate unchanged at 21 percent. But in a press release, it said it would consider further interest rate increases if inflation did not evolve in a way that ensured the 4 percent inflation target was reached.