From the perspective of the Russian central bank, new sanctions from the West have fueled a weaker rubles and a lower harvest into the country. These factors are responsible for the high inflation rates in December 2024 and in January 2025, the Central Bank said.
Inflation in Russia was 9.52 percent last year. It was still 7.42 percent in 2023. However, the goal mark of the Central Bank is 4.0 percent. During their most recent interest rate session in December, the currency keeper surprisingly left the most important interest at 21 percent, despite the high inflation.
Increasing increasing problem since the start of the war
Dragging has become the greatest economic challenge since Russia started an attack war against Ukraine in February 2022. In the country itself, the authorities continue to speak of a “special military operation”. Most analysts assume that inflation will be higher this year than the annual prediction of the central bank that is predicted from 4.5 to 5.0 percent.
From the perspective of the Russian Central Bank it is important to maintain the cornerstones for the Staats budget 2025 to control inflation. The cornerstones were still adapted for the budget of 2024 to increase the shortage twice in the course of the year. Moreover, the Central Bank said that it was no longer possible to maintain high growth rates in an environment characterized by scarce employees and production capacities. A further stimulation of the economy would bring the economy into a recession. The next interest decision of the Russian Central Bank is on February 14.
Source: Krone
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