This is the seventh consecutive rate hike. In general, since March 2021, the rate has risen from 4.25% to 8.5%, which is 425 points.

This increase occurred by 100 basis points. This did not come as a surprise to anyone, since the overwhelming majority of experts and analysts spoke about the high probability of such a decision.

The Central Bank of the Russian Federation made just such a decision, since demand continues to grow faster than supply, the balance between the risks for inflation is significantly shifting towards pro-inflationary ones. In addition, inflationary expectations are growing, which may lead to a more significant and prolonged deviation of inflation upward from the target.