What will be Russia’s basic interest rate at the end of 2023?
Market Rules
The Russian economy went through turbulence since the military attacks against Ukraine started in February 2022, due to various geopolitical, financial and economic boycotts. To take hold of the inflation, the Bank of Russia hiked the basic interest rate from 9.5% to 20%. Still, since September 2022, it managed to stabilize that rate in 7.5%.
This market will resolve in favor of the outcome whose range of values contains the annual basic interest rate of Russia, according to the statement published by the Bank of Russia’s Board of Directors following its last meeting of 2023, set to take place on December 15th, 2023.