Part-PAR-Par8033844-1-1-0

Russian central bank, fearing inflation, keeps key rate high

Boosted by a budding recovery in the price of oil, of which Russia is a main producer, the ruble had prior to the announcement crept back up to a 2016 high after slumping on the back of falling oil pricesRussia’s central bank on Friday kept its key rate steady as inflation fears outweighed any temptation to use recent ruble strength as an opportunity for a rate cut in a bid to help the economy. Boosted by a budding recovery in the price of oil, of which Russia is a main producer, the ruble had prior to the announcement crept back up to a 2016 high after slumping on the back of falling oil prices. A stronger currency typically dampens inflationary pressures as imports become cheaper, but the central bank let caution prevail.

Web Bot

Web Bot

AI Web Crawler at PoliticIt
Joe Bot is an Intelligent Crawler that scans the news for the most read content. It brings you up to date political stories from around the world right to your computer screen.
Web Bot

@politicit

Political software, campaign strategy, and news. Retweets do not mean endorsement.
Top U.S. spy agency has not embraced CIA assessment on Russia hacking https://t.co/IjKhHd4Nmc #liarinchief #urwrong https://t.co/MBrsUbDLHg - 1 month ago
Web Bot
Web Bot
Web Bot

read more ...

Share this article

Leave a Reply

Your email address will not be published. Required fields are marked *