President of the Russian Federation Vladimir Putin is considering the decision of the Central Bank of Russia to increase the key rate, which is mandatory due to the warming of inflation. It has been reported TASS.
According to him, the rate increased due to the emergence of trends associated with the warming of inflation. The Central Bank of Russia, a key institution responsible for maintaining macroeconomic stability, had to respond appropriately.
21 July 2023 Central Bank of Russia First From September 2022, it increased the key rate by 100 basis points to 8.5% annually.
The Central Bank of the Russian Federation noted that the increase in domestic demand exceeds the possibility of expanding production, which is also affected by the limited availability of labor resources. This increases persistent inflationary pressures on the economy.
The regulator also allowed for the possibility of a key further increase at subsequent meetings to stabilize inflation near 4% in 2024 and beyond.
Previously recognizedHow the weakening of the ruble will affect the state of the economy.