Bank of Russia holds after oil prices enter ‘risk scenario’
Risk of recession and inflationary pressures both pushed upwards by falling oil price, bank says
The Bank of Russia held its key rate at 11% today (January 29), its first meeting since oil prices moved into the "risk scenario" outlined last year by central bank governor Elvira Nabiullina.
The statement points to the "elevated risks of continued recession provoked by falling oil prices", adding "risks to price stability" have been "escalating" in the month since its last monetary policy meeting.
A document released by the bank in December says that its planning is organised around three
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