MOSCOW (AFN / BLOOMBERG) – Russian consumers paid in March, 16.9 percent more for everyday products than a year earlier. The fastest increase since 2002 is mainly due to the free fall of the ruble as a result of Western sanctions against Russia and influential Russians. In February inflation of 16.7 percent was also very sharply.
The Russian central bank has six consecutive rate hikes begun a program of support for the economy, which for the first time since 2009 in a recession has slipped. The bank takes into account that the economy this year may shrink by 4 percent. At the last rate cut decreased key rate by a full percentage point to 14 percent.
On April 30, the central bank examines the question of whether interest should be further reduced or that there are other steps are needed.
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