The domestic Central Bank has significantly raised the key rate.
The board of directors today decided to increase the key rate to 18.00% per annum, the correspondent of The Moscow Post reports with reference to Press release of the regulator.
The Central Bank notes that inflation has accelerated and develops much higher than the last forecast of the regulator.
“In order to begin to decline again, additional tightening of monetary policy is required, and to return inflation to the goal, a significantly more stringent monetary conditions than previously expected,” they explained there.
According to the press secretary of the head of state Dmitry Peskov, Russian indicators of economic development in industries and in the growth of GDP are positive.
He commented on this issue during communication with the media.
The Kremlin spokesman said that the indicators of economic development themselves both in industries and in general in growth of GDP “very, very positive.”