Russia may introduce capital controls to strengthen ruble Bloomberg.
According to the agency, when the Central Bank decided to raise the key interest rate, officials and exporters discussed the proposal to make the sale of export earnings mandatory, but so far they have not reached a unanimous decision.
Formerly VTB and Postal Bank decided Raise rates on savings products after the Central Bank of the Russian Federation immediately raised the interest rate by 350 basis points to 12% per annum at an extraordinary Board meeting. This is due to messages received by banks by the editorial office of socialbites.ca.
The bank said rates will be increased for all customer segments, both for deposit and savings accounts.
Changes to deposits will take effect on savings accounts – at the beginning of the next – starting Thursday this week.
Previously, the Central Bank of the Russian Federation sharply raised up to 12% key rate in an unscheduled meeting.