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

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The bank said it would assess the need for any future increases at its next meeting and that inflation was expected to fall to an annual 4% next year from its current 9.5% High rates can dampen inflation but also make it more expensive for businesses to get the credit they need to operate and invest. He acknowledged there had been criticism of the central bank, saying that “some experts believe that the Central Bank could have been more effective and could have started using certain instruments earlier.”

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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.
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