Bank of Russia increases policy rate 100bp

Bank-of-Russia
The Bank of Russia

Citing inflation “higher and more persistent than forecast”, the Bank of Russia board of directors raised the policy rate by 100 basis points on July 23. This brings the key rate to 6.5%.

The central bank said that year-on-year inflation had reached 6.5% in June, adding that it had adjusted its inflation projections for the year. It now expects inflation to reach 5.7–6.2%, before falling towards 4–4.5% in 2022 and 4% thereafter. The Bank of Russia maintains a 4% inflation target.

This is the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.