Russian central bank keeps policy rate unchanged at 20%

The Bank of Russia announced on Friday that it left the policy rate unchanged at 20% as expected.

“Will take into account actual and expected inflation movements relative to the target and economic developments over the forecast horizon.”

“Will take into account risks posed by domestic and external conditions and the reaction of financial markets.”

“Drastic change in external conditions for the Russian economy that occurred at the end of February has created threats to financial stability.”