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Sberbank, Russia's largest lender, anticipates a significant interest rate increase by the Central Bank, potentially reaching 23%, to combat high inflation. This prediction follows the Central Bank's October rate hike to 21% and signals a continuation of tight monetary policy. VTB, another major Russian bank, has already lowered its profit expectations due to this policy. The Central Bank's upcoming December 20th meeting will determine the final rate adjustment, with the governor warning of potentially drastic changes. These economic actions are occurring amidst Russia's ongoing war in Ukraine and resulting economic pressures. Send us a text in our website https://www.buzzsprout.com/2428312
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