Research and analysis

Russia economic - interest rates increased to 10.5%

Report from the Embbassy in Moscow on latest developments in Russia's economy.

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Russia’s Central Bank raises rates by 100bp to 10.5%. Rates now up 500bp since the start of the year. Rising inflation – which has reached 9.4% – and continued rouble depreciation were the key factors behind the decision. Despite the rise, the rouble falls to a new historic low of 55.2 to the dollar shortly after the announcement.

Published 12 December 2014