(MENAFN- Trend News Agency) Russia's Central Bank has kept its key rate at 7.5% per annum
for the fourth time running, noting the rate increase possibility
should pro-inflation risks intensify, according to a statement
released by the regulator on Friday, trend reports with reference to tass .
'The Bank of Russia Board of Directors decided to keep the key
rate at 7.50% per annum. Current rates of price growth remain
moderate, including in the stable components of inflation.
Inflation expectations of households are down significantly but
remain elevated, as do businesses' price expectations.
High-frequency data suggest that a recovery in business and
consumer activity is ongoing,' the statement reads.
Accelerating fiscal spending, deteriorating terms of foreign
trade and the situation in the labor market continue to pose
pro-inflation risks, the regulator said.
Moving forward, in its key rate decision-making the Bank of
Russia will take into account actual and expected inflation
dynamics relative to the target and economic transformation
processes, as well as the risks posed by domestic and external
conditions and the reaction of financial markets. If pro-inflation
risks intensify, the Bank of Russia will consider the necessity of
key rate increase in the key rate at its upcoming meetings.
The next rate review meeting is scheduled for April 28,
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.