Against the backdrop of partial mobilization in Russia, labor shortages are increasing in many industries.
Photo: Rossiyskaya Gazeta
Central Bank Russia has decided to keep the key rate at 7.5% per annum, according to The Moscow Post correspondent.
According to the press service of the regulator, in November, inflation was 12%, while a month earlier prices rose was 12.6%. At the same time, taking into account the ongoing monetary policy, inflation is expected to be in the range of 5 to 7% in 2023. In 2024, a return to the target of 4% is expected.
The last time the Central Bank of the Russian Federation also kept the key rate at 7.5%, this happened at a meeting of the board of directors of the regulator on October 28.
In September, at a meeting of the Board of Directors of the Bank of Russia, the key rate was reduced from 8% to 7.5%.
The key rate was last urgently raised by the Central Bank of the Russian Federation on February 28 from 9.5% to 20%. An increase in the rate will ensure an increase in deposit rates to the levels necessary to compensate for the increased devaluation and inflation risks, will help maintain financial and price stability and protect citizens' savings from depreciation.