15/12/2023 15:55 (UTC)

Russia raises interest rates by 1% and forecasts growth of more than 3%

Moscow (Russia), Dec 15 (EFE/EPA) - (Camera: Maxim Shipenkov) The Central Bank of Russia (BCR) on Friday raised interest rates by one percentage point to 16 % and forecast growth of more than 3 % in the national economy by 2023.

The BCR's decision was expected, so that the national currency, the rouble, hardly reacted at all in its exchange rate against the dollar and the euro.

The 16% more than doubles the interest rate from earlier this year, which stood at 7.5%, due to inflationary pressure, a problem admitted the day before by Russian President Vladimir Putin himself in his daily telephone press conference.

FOOTAGE OF THE CENTRAL BANK OF RUSSIA'S HEADQUARTERS IN MOSCOW.

Metadata

Date: 15/12/2023 12:00 (UTC)
Credit: EFE
Source: EPA
Topic: Economy, business and finance » Economy (general)
Type: Rough cut
Duration: 59 seconds
Reference: 7001321447
Relevance: Normal