The Moscow Stock Exchange index fell below 2,700 points after the Central Bank decided to increase the interest rate to 21% per year. This is evident in the data of the trading platform.
Author:
https://rb.ru/author/bmuzichenko/
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At its low on October 25, the index stood at 2,699.75 points, 0.7% less than at the close of the previous session. Before the Bank of Russia meeting, the index was around 2,727 points.
At the time of this publication (14:17 Moscow time), the index corrected the decline and stood at 2,732.82 points.
At a meeting on October 25, the Board of Directors of the Central Bank decided to increase the key interest rate by 200 basis points, up to 21% annually. This is the third consecutive rate increase in 2024 and the highest key rate increase in history. The last high was in February 2022, when the rate rose to 20% annually.
The regulator also allowed an increase in the key rate at the next meeting, which will take place on December 20. According to economists, the figure could reach 22% by the end of 2024 because inflation will exceed the Central Bank’s expectations.
Author:
Bogdan Muzychenko
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
