Central Bank of Russia Hikes Policy Rate by 100 bps to 9.5%

The Central Bank of Russia announced on Friday that it raised its policy rate by 100 basis points to 9.5% from 8.5%. This decision came in line with the market expectation.

“Key rate decisions will be made taking into account actual and expected inflation movements relative to the target and economic developments over the forecast horizon as well as risks posed by domestic and external conditions and the reaction of financial markets.”