‘Colossal uncertainty’: Russia surprises with bigger rate cut
Posted: Sat Apr 30, 2022 9:35 pm
https://www.aljazeera.com/economy/2022/ ... r-rate-cut
Russia’s central bank cut interest rates more than forecast and indicated that borrowing costs may fall even lower, as priorities shift to supporting an economy derailed by international sanctions over the invasion of Ukraine.
Three weeks after reversing part of the emergency hike delivered after the attack, the Bank of Russia again lowered its benchmark by three percentage points to 14%. All economists surveyed by Bloomberg predicted smaller decreases.
Russia’s central bank cut interest rates more than forecast and indicated that borrowing costs may fall even lower, as priorities shift to supporting an economy derailed by international sanctions over the invasion of Ukraine.
Three weeks after reversing part of the emergency hike delivered after the attack, the Bank of Russia again lowered its benchmark by three percentage points to 14%. All economists surveyed by Bloomberg predicted smaller decreases.