The ruble has not changed against the Chinese yuan on the Moscow Exchange after the rate increase
The ruble did not change against the Chinese yuan on the Moscow Exchange after raising the key rate from 16 to 18 percent per annum. It is reported that this decision was expected by the market.
As of 13.31 Moscow time, the yuan exchange rate at the exchange was 11.7255 rubles, which is 0.55 kopecks higher than the level at 13:29 Moscow time.
Earlier it became known that the Central Bank of Russia raised the key rate due to the acceleration of inflation. The regulator clarified that the indicator is significantly higher than the forecast given in April of this year.
The statement of the Bank of Russia says that in order to reduce inflation, “additional tightening of monetary policy” is necessary.