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From the Constitution, on Friday, September 14, 2018.
– The Russian central bank decided Friday to raise its main interest rate by 0.25 percent to 7.5 percent per year amid the rising inflation risk in the country.
"The external changes that have taken place since the board meeting of the previous bank have significantly increased the inflation risk, so decided to raise interest rates."
The last time the Russian central bank moved to raise interest rates was in December 2014, when the decision was taken because of the fall of the Russian currency. In recent months, the volatility of the ruble has increased because Washington has imposed new sanctions on inflation risks, which have increased from 9.7% in August to 9.9% in July.
On the basis of the forecast of the inflation figures of the Russian Central Bank, it is expected that the interest rate next year will be in the range of 5% – 5.5%, to decrease to 4% in 2020.
The central bank also maintained its earlier forecast for the growth of the Russian economy this year, expecting GDP to grow by 1.5% -2% in 2018.
The value of the Russian currency rose after the decision on the foreign exchange market and recorded the dollar exchange rate at 13:50 Moscow, 67,54 rubles, 69 Kubica withdrawal (ruble = 100 Kubik) and the euro fell by 69 Kubik, to 79,08 ruble, Moscow Stock Exchange. "
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