BLOOMBERG.COM
Russia’s central bank kept its benchmark interest rate unchanged for a fifth meeting amid risks to inflation, warning that its “moderately tight” monetary policy may last longer than previously planned. The ruble reversed losses after the announcement. The one-week auction rate will remain at 11 percent, the Bank of Russia said in a statement on Friday. Thirty-five of 42 economists predicted the move, with the rest forecasting a reduction to 10.5 percent, according to a Bloomberg survey. Governor Elvira Nabiullina will hold a news conference at 3 p.m. in Moscow, and policy makers will also issue updated economic forecasts.
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Russia’s central bank kept its benchmark interest rate unchanged for a fifth meeting amid risks to inflation, warning that its “moderately tight” monetary policy may last longer than previously planned. The ruble reversed losses after the announcement. The one-week auction rate will remain at 11 percent, the Bank of Russia said in a statement on Friday. Thirty-five of 42 economists predicted the move, with the rest forecasting a reduction to 10.5 percent, according to a Bloomberg survey. Governor Elvira Nabiullina will hold a news conference at 3 p.m. in Moscow, and policy makers will also issue updated economic forecasts.
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