Bank of Russia says Putin’s mobilisation will hit demand

Bank of Russia
The Bank of Russia
Photo: Kuba/Wikimedia Commons

The Bank of Russia held its policy rate at 7.5% on October 28, the first time it has held rates since March.

The Russian central bank’s pause follows more than a year of steep increases, followed by steep cuts. By contrast, the central banks of two of Russia’s near neighbours, Kazakhstan and Azerbaijan, raised rates on the same day.

The Bank of Russia said president Vladimir Putin’s “partial mobilisation” of men for the invasion of Ukraine would have an impact on the country’s economy. The

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