Russian central bank keeps policy rate unchanged at 20% as expected By eren_fxstreet RussianFederation CentralBanks USDRUB
Key takeaways from policy statement
"Flash indicators, including the Bank of Russia’s business survey, suggest a deterioration of the situation in the Russian economy.""Monetary policy is set to enable a gradual adaptation of the economy to new conditions and a return of annual inflation to 4% in 2024." "Will take into account risks posed by domestic and external conditions and the reaction of financial markets."
"Economy is entering the phase of a large-scale structural transformation, which will be accompanied by a temporary but inevitable period of increased inflation."The USD/RUB pair edged higher with the initial reaction and was last seen rising 0.65% on a daily basis at 103.80.Information on these pages contains forward-looking statements that involve risks and uncertainties.
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