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The Russian rouble fell in light trading in Moscow on Friday, with trading on separate exchanges stabilising beyond 100 to the dollar, after the central bank opted to hold rates at 20 per cent and said it would start purchasing OFZ government bonds.
The central bank kept its key interest rate unchanged on Friday, in line with a Reuters poll of analysts, following an emergency rate hike in late February, but warned of higher inflation and an economic contraction this year, without giving new forecasts.
The central bank’s actions have come in support of an economy buckling under the stress of sanctions from across the globe, triggered by Russia’s invasion of Ukraine late last month.
(TDS)
