Russian governor says rates may have to rise

The Bank of Russia’s governor Elvira Nabiullina said rates are likely to rise this year, after the monetary policy committee left policy unchanged on February 10. The MPC voted to hold its policy rate at 7.5%, but Nabiullina’s statement warned “proinflationary risks have risen overall”. She said the rising inflationary pressures meant “the key rate is more likely to be raised rather than cut this year”. It is not clear how Russian president Vladimir Putin will react to any suggestion by the

Original article: https://www.centralbanking.com/central-banks/financial-stability/7954496/russian-governor-says-rates-may-have-to-rise