Russian Central Bank keeps interest rates unchanged

Bank warns of growing inflation risks because of geopolitical factors

Russian Central Bank keeps interest rates unchanged

World Bulletin / News Desk

The Russian Central Bank has decided to hold its key interest rate unchanged at 7.25 percent, the bank said in a statement on Friday.

The annual inflation rate remains low, according to a statement from the bank.

The decision was made due to growing risks of rise in inflation because of geopolitical factors, it said.

"Geopolitical factors and accelerated yield growth in advanced economies may cause surges in volatility in financial markets and affect expectations for the exchange rate and inflation," the statement said.

In early April, the U.S. put new sanctions against Russia resulted in ruble weakening and market losses. Since then the ruble has lost more than 10 percent of its value.

Last Mod: 28 Nisan 2018, 10:56
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