Russia's central bank maintains key interest rate at 16% amid high inflation.

Russia's central bank kept its key interest rate unchanged at 16% on Friday, as inflation remains high. Despite the possibility of a pause in rate hikes, the central bank plans to maintain tight monetary conditions to bring inflation back to its 4% target. Analysts expect the bank to begin easing monetary policy in June, with the next rate-setting meeting scheduled for April 26.

March 22, 2024
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