The Russian Central Bank Unexpectedly Raise Interest Rates: Raise The Benchmark Interest Rate To 7.50%

On September 14, the Russian central bank unexpectedly raised interest rates, the Russian central bank raised the benchmark interest rate to 7.50%, estimated at 7.25%.

Bank of Russia: will stop buying foreign exchange until the end of this year.

The Bank of Russia expects the economy to grow by 1.5% to 2% in 2018 and the economy by 1.2% to 1.7% in 2019. The inflation rate is expected to be 3.8% to 4.2% in 2018. The main risk facing CPI is the uncertainty of external conditions.