Russia's central bank, as expected, is keeping the interest rate unchanged at 21 percent, a historically high interest rate level. From a market perspective, the message was expected and all economists surveyed had predicted an unchanged interest rate.
Russia's inflation, according to government authorities, is around 10 percent, although many observers in the outside world believe it is significantly higher than that. However, inflation expectations fell in February for the first time in five months after seeing glimmers of hope for the Russian labor market.
The shortage of labor as a consequence of the war against Ukraine has been a driving inflation factor for Russia's part.
