The Russian Central Bank keeps the main interest rate at its current level of 4.25%

The Russian Central Bank decided during its Board of Directors meeting, today, Friday, to maintain the main interest rate at its current level.

“On February 12, the Board of Directors of the Bank of Russia (the Russian Central Bank) decided to maintain the main interest rate at 4.25% annually,” the central bank said in a statement.

He added, “In December 2020 and January 2021, the rate of price growth remained at high levels, and a recovery in demand was observed faster than previously expected.”

The Russian Central Bank also increased its forecast of inflation rates in the country for the next year, as it expects inflation to be in the range of 3.7%-4.2%, expecting the index to be at a record level in February and March of 2021.

The Central Bank also raised its forecast for the price of Russian oil in the years 2021-2022 to $ 50 a barrel, from a previous forecast of $ 45 a barrel.

The decision of the Russian Central Bank on maintaining the interest rate was in line with the expectations of analysts and experts.

There was no significant change in the Russian currency exchange rate after the decision of the Russian Central Bank. According to the data of the Moscow Stock Exchange, the currency was trading, by 13:31 Moscow time, at the level of 74.27 rubles, while the euro was at 89.91 rubles.

Source: TASS