‼️ BREAKING: The Russian Central Bank decided to keep the Key Rate at 👉 21.00% cbr.ru/eng/press/pr... - ThreadSky

prune602.bsky.social • 2 days ago

‼️ BREAKING: The Russian Central Bank decided to keep the Key Rate at

👉 21.00%

https://cbr.ru/eng/press/pr/?file=25042025_133000key_e.htm

Comments

jonnyjohns.bsky.social•2 days ago

Yes, but what's the real interest rate when you actually front up to a bank and ask for a loan? 25%? Higher?

prune602.bsky.social•2 days ago

Here is an example:

jonnyjohns.bsky.social•2 days ago

Ouch, 28.7%. I recall my father saying about the 1990s recession in Australia where interest rates were ~18% and things were real bad. Inflation was low, though. Unemployment was high.

In ruzzia, unemployment is real low and inflation is real bad.

Lucky trump has arrived to save ruzzia.

jcharp.bsky.social•2 days ago

Their high employment rate is based on a war economy (huge over spending), but soon they will have to scale down that only thing saving them from having high unemployment too. If it hasn't turned into flying shit by then, it sure will...

jonnyjohns.bsky.social•1 day ago

Primarily I would have thought lack of manpower. All those who fled the first mobilisation plus all those dead and maimed.

prune602.bsky.social•1 day ago

It’s both of these PLUS an aging population with a very small working age group to replace them, plus loss of migrant labor

prune602.bsky.social•2 days ago

Here is the new Medium-Term forecast

Note: Don’t assume their forecasts will be correct

prune602.bsky.social•2 days ago

For reference:

prune602.bsky.social•2 days ago

Link to the Press Conference

https://cbr.ru/eng/press/event/?id=23568

prune602.bsky.social•2 days ago

It looks like there were no other options considered other than staying at 21%

nosferatu82.bsky.social•1 day ago

I think they are a bit stuck with the rate. If they lower it, bank profits will go down and lending probably doesn't increase that much - banks will be in (more) troubles. If they raise it businesses are in (more) troubles + (more) bad debts to banks.

mike1880.bsky.social•1 day ago

Elvira:

mikaelj.se•2 days ago

Did you expect it to go up or down?

prune602.bsky.social•2 days ago

I thought anything was possible

mike1880.bsky.social•1 day ago

Hm inflation 4% by end of next year, key rate down to 14 average...yeah, that all checks out. All very achievable.

cymonset.bsky.social•2 days ago

Walking that narrow path between the Devil and the deep blue sea.

Only in this case they get both.

kaestli.bsky.social•2 days ago

"There is no official inflation in Russia but we have found the best way to boost it."

caerulean-blue.bsky.social•2 days ago

What a surprise!

billerator.bsky.social•2 days ago

Guaranteed that she was told not to increase the rate.

caerulean-blue.bsky.social•2 days ago

Yep. Reportedly, she tried to resign after Russia's 2022 invasion of Ukraine, but they wouldn't allow her to go.

tonyymax.bsky.social•2 days ago

To keep inflation down it must go up but state duma doesn't allow it😄. Blaming the head of central bank is also bs because she does everything in coordination with putler imo.

klastommy.bsky.social•2 days ago

Happy borrowing russian companies!

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