Russian maintains key rate

RUSSIA / FSU POLITICS - In Brief 21 Mar 2020 by Alex Teddy
On March 20 the Russian Central Bank (CBR) announced that the key rate would be kept at 6%. The rationale was this is to counteract the inflationary drop occasioned by the double whammy of coronavirus and the abrupt fall in oil prices. CBR cut the key rate on 6 consecutive occasions owing to lower than forecast inflation. CBR warned that the dramatic decline in the value of the RUB might cause inflation to go above the target of 4%.

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