The head of Rostec Sergei Chemezov, the owner of Severstal Alexey Mordashov and many others have previously publicly complained about the high level of interest rates.
The head of the Central Bank of the Russian Federation, Elvira Nabiullina, left the key rate at 21%. It came as a complete surprise to the market: most analysts expected an increase to 23%, which allows for a sharper step – up to 25%. This was reported by The Moscow Times on Friday, December 20.
The Central Bank of the Russian Federation, after raising the rate to 21% at the end of October, warned that a further increase will be considered at this meeting – previously such signals always give rise to the rate.
In its commentary, the Central Bank of the Russian Federation explained this decision by saying that its policy – and this year it has already raised the rate from 16 to 21% – has begun to produce results: lending has slowed down.
The enormous pressure exerted by officials and oligarchs on the Central Bank probably played a role. According to them, the head of Rostec Sergei Chemezov, the owner of Severstal Alexey Mordashov and many others complained publicly about the high level of interest rates.
Complaints have also reached Russian leader Vladimir Putin — especially from those with access to him, including Prime Minister Mikhail Mishustin, Bloomberg reported.
The day before, Putin said in a direct line that Nabiullina does not tell him in advance what rate the Central Bank will set.
We remind you that the news about the Biden administration’s consideration of tightening sanctions against the Russian Federation led to a fall in the ruble exchange rate.
Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.