17:15 - 21.07.2023
July 21, Fineko/abc.az. After a long pause, the Bank of Russia sharply raised the key rate - by 1 percentage point, to 8.5% per annum.
ABC.AZ reports with reference to the Bank of Russia that the current rate of price growth, including a wide range of stable indicators, exceeded 4% in terms of the year and continue to grow.
The increase in domestic demand exceeds the possibilities of expanding production, including due to the limited availability of labor resources. This increases the steady inflationary pressure in the economy, the Central Bank of Russia points out.
The Bank of Russia noted that it admits the possibility of a further increase in the key rate at the next meetings to stabilize inflation near 4%.
