The central bank left the key rate at 21%

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On December 20, the Board of Directors of the Central Bank of Russia decided on the amount of the key rate. So, the rate remained unchanged at 21%.

Recall that earlier a number of experts predicted a rate increase to at least 23%-24%.

-There has been a more significant tightening of monetary conditions than the October decision on the key rate suggested. Factors independent of monetary policy contributed to this. According to the Bank of Russia, taking into account the significant increase in interest rates for end borrowers and the cooling of credit activity, the achieved rigidity of monetary conditions creates the necessary prerequisites for resuming the disinflation process and returning inflation to the target, despite the increased current price growth and high domestic demand, the Central Bank said in a statement.

The Bank of Russia also announced that it will assess the feasibility of raising the key rate at the next meeting.