Russia’s central bank held its key interest rate at 7.5% as expected on Friday, but said inflation risks were rising and that it would hold open the prospect of increasing the key rate at upcoming meetings.
Annual inflation, which spiked to over 20-year highs in 2022, has slowed to below the bank’s 4% target in recent months as last year’s base effect took hold. But it is expected to pick up, with consumer prices rising 0.21% in the week to June 5.
Read More : Russian Central Bank Holds Interest Rates Steady at 7.5% as Inflation Risks Escalate