The Russian Central Bank decided, during its meeting of its board of directors today, Friday, to maintain the main interest rate at its current level at 7.5%, for the fifth time in a row.
The Russian Central Bank said in a statement posted on its channel on the “Telegram” application after the meeting: “The Russian regulator maintained, for the fifth time in a row, the main interest rate at 7.5% annually.”
The central bank lowered its inflation forecast for 2023 to 4.5%-6.5%, instead of the 5%-7% it had expected.
The Russian Central Bank has improved its forecast for the dynamics of GDP for 2023, now expecting its growth in the range of 0.5% -2%.
In the currency market, the exchange rate of the European and American currencies fell against the Russian ruble following the decision of the Russian Central Bank, and the euro exchange rate fell below the level of 88 rubles, for the first time since April 6.
While the dollar exchange rate fell below the level of 80 rubles, also for the first time since the same date (April 6, 2023).
This article was originally published by RT.
