Russian Central Bank hikes key rate

RUSSIA / FSU POLITICS - In Brief 15 Dec 2018 by Alex Teddy
On 14 December the Russian Central Bank (CBR) raised the key rate by 25 basis points. It is not 7.7%. The bank noted the danger of short term inflation and the possibility of US sanctions prompted the move. This moved surprised many. From 15 January 2019 the bank shall recommence foreign currency purchases. There was a moratorium on these since the summer to reduce the fall of the RUR.

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