The Russian Central Bank urgently raised the key rate

Elena Kovalenko11:12, 08/15/232 minutes.2

Inflationary pressure in Russia continues to increase.

Against the background of the fact that last week the Russian  ruble collapsed to 100 units per dollar , the Board of Directors of the Bank of Russia at an emergency meeting decided to raise the key rate by 3.5 percentage points – from 8.5% to 12% per annum.

According to RosSMI , this decision was made “in order to limit the risks to price stability.” 

After the decision of the Central Bank, the ruble finally went down: the dollar is above 98 rubles, the yuan is about 13.4 rubles, the euro is above 107 rubles.”

Inflationary pressures continue to increase.

As of August 7, the annual inflation rate increased to 4.4%. At the same time, the current rate of price growth continues to accelerate.

On average, over the past three months, current growth, seasonally adjusted, was 7.6% in terms of for the year.

The same indicator of core inflation increased to 7.1%,” the official press release says.

(C)UNIAN 2023


  1. Inflation is 4.4% after a currency is devalued by 50%…my ass! If that’s true every past and present economists are either rolling in their graves or scratching their heads or their ass. Simply, this doesn’t fit with any economic model developed over the last 400 years. Just another piece of Russian bullshit.

    • This is a perfect example of rule number one when dealing with a ruskie; always assume being lied to.

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