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Russian central bank holds rates steady at 21% amid criticism from key business figures

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Alexei Mordashov Nieuws

Sergei Chemezov,Business,World News

Russia’s central bank has left its benchmark interest rate at 21%, holding off on further increases as it struggles to snuff out inflation fueled by the government’s spending on the war against Ukraine.

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Factories are running three shifts making everything from vehicles to clothing for the military, while a labor shortage is driving up wages and fat enlistment bonuses are putting more rubles in people's bank accounts to spend. All that is driving up prices. Critics of the central bank rates and its Governor Elvira Nabiullina have included Sergei Chemezov, the head of state-controlled defense and technology conglomerate Rostec, and steel magnate Alexei Mordashov.

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Russian central bank holds rates steady at 21% amid criticism from key business figuresRussia’s central bank has left its benchmark interest rate at 21%, holding off on further increases as it struggles to snuff out inflation fueled by the government’s spending on the war against Ukraine.
Bron: AP - 🏆 728. / 51 Lees verder »

Russian central bank holds rates steady at 21% amid criticism from key business figuresRussia’s central bank has left its benchmark interest rate at 21%, holding off on further increases as it struggles to snuff out inflation fueled by the government’s spending on the war against Ukraine.
Bron: wjxt4 - 🏆 246. / 63 Lees verder »