Russia's Central Bank Says Inflationary Pressure Remains High

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Posted on 11/18/2024 5:15:03 PM PST by marcusmaximus

Inflationary expectations among Russian households for the year ahead stood at 13.4% in November, unchanged from October, while inflationary pressure remained high, the central bank said on Monday.

The central bank raised its benchmark interest rate to 21% last month, the highest level in more than 20 years, citing high inflation and elevated inflationary expectations as the main reasons for the move.

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The central bank board will convene for the next rate-setting meeting on Dec. 20, with the officials saying that a further tightening of monetary policy was possible.

(Excerpt) Read more at money.usnews.com ...

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