Nabiullina says ‘risk’ scenario for Russian economy more likely now
Governor Elvira Nabiullina fears oil prices may fall further, harming the economy
The Bank of Russia left its key interest rate unchanged at 11% today (December 11), in the face of higher inflation following its aggressive monetary easing earlier in the year.
The key rate has been cut by a total of 600 basis points since the beginning of 2015, in response to an economic slowdown triggered by falling oil prices and sanctions imposed by Western countries.
Annual inflation in Russia reached 15% in November, according to the Bank of Russia's published figures. It has slowed in
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