16:03 - 27.10.2023

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October 27, Fineko/abc.az. The Bank of Russia raised the key rate by 2 basic points at once, to 15% per annum, indicating a significant increase in the current inflationary pressure.

ABC.AZ reports that this is stated in Russian central bank’s press release.

"On October 27, 2023, the Board of Directors of the Bank of Russia decided to raise the key rate by 200 bps, to 15.00% per annum," the bank said.

The regulator noted a significant increase in inflationary pressure, it is developing above bank’s expectations.

The Bank of Russia pointed to steady increase in domestic demand, which increasingly exceeds the possibilities of expanding the production of goods and services.

The Russian central bank noted that inflation expectations remain at elevated levels.