The Bank of Russia has retained the key rate at 16% per annum. This is stated in the message of the Russian regulator.
“Board of Directors of the Bank of Russia on February 16, 2024 decided to maintain a key rate at 16.00% per annum. The current inflationary pressure decreased compared to autumn months, but remains high. Internal demand continues to significantly ahead of the expansion of the production of goods and services . To judge the stability of developing disinflation trends prematurely, ”the statement said.
The regulator noted that the monetary policy pursued by the Bank of Russia will fix the process of disinflation in the economy.
“The return of inflation to the goal in 2024 and its further stabilization, near 4%, suggest a long period of maintaining strict monetary conditions in the economy, -they added to the Central Bank.