Bank of Russia considered increasing key rate to 17% in February

Bank of Russia considered increasing key rate to 17% in February
# 28 February 2024 00:59 (UTC +04:00)

The Board of Directors of the Bank of Russia considered two options at the first meeting in 2024 on the key rate - maintaining it at 16% and raising the rate by 100 basis points to 17%, the regulator said, APA reports citing TASS.

"Taking into account the facts acquired from the December decision on the key rate and the updated forecast, the discussion participants examined two solutions - maintaining the key rate at 16% per annum and increasing the key rate by 100 basis points to 17%," the statement said.

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THE OPERATION IS BEING PERFORMED