-
Man Utd: Erik ten Hag says injuries holding side back - 3 mins ago
-
African Footballer of the Year: Debate after Boniface and Salah left off shortlist - 4 mins ago
-
McLaren Are Launching Appeal Against United States Grand Prix Penalty - 12 mins ago
-
Top American Basketball Young Stars to Watch in the 2024 Season - 16 mins ago
-
Amesbury man jailed for attempting to kidnap two-year-old boy - 19 mins ago
-
Negotiations between farmworkers, Wonderful can continue, court rules - 28 mins ago
-
Elon Musk Defies DOJ As He Hands Out Another $2M to Swing State Voters - 29 mins ago
-
PAK vs ENG | Shakeel ton, tailender cameos, and late English wickets give Pakistan ascendancy on Day 2 - 31 mins ago
-
Man stabbed asylum seeker in ‘small boats protest’ - 34 mins ago
-
Storm Dana Hits Coast, Triggers Mass Evacuations - 43 mins ago
Russia’s central bank raises key rate to 21% to rein in inflation
09 June 2024, Russia, Moskau: A guardhouse of the Kremlin (l) and the Foreign Ministry (M, background) stand in the center of the capital. Photo: Ulf Mauder/dpa (Photo by Ulf Mauder/picture alliance via Getty Images)
Picture Alliance | Picture Alliance | Getty Images
Russia’s central bank on Friday raised its key interest rate by 200 basis points to 21%, citing higher-than-forecast consumer price increases and warning of ongoing high inflation risks in the medium term.
The institution noted annual inflation of 8.4% as of Oct. 21 and now anticipates the print will sit in a 8.0–8.5% range by the end of 2024.
“Over the medium-term horizon, the balance of inflation risks is still significantly tilted to the upside,” the bank said in a statement. “The key risks are associated with persistently high inflation expectations and the upward deviation of the Russian economy from a balanced growth path, as well as with a deterioration in foreign trade conditions.”
This breaking news story is being updated.
Source link