RUSSIA ECONOMY

Meeting of the Board of Directors of the Bank of Russia in Moscow

epa11031243 A handout picture made available by Russian Foreign ministry press service shows Bank of Russia Governor Elvira Nabiullina attends a press-conference in Moscow, Russia, 15 December 2023. The Board of Directors of the Bank of Russia decided to increase the key rate by 100 basis points (bp) - to 16.0 % per annum. The Bank of Russia notes that current inflation pressure remains high. By the end of 2023, annual inflation is expected to be near the upper limit of the forecast range of 7.0-7.5 %. At the same time, GDP growth in 2023, according to the Bank of Russia, will be higher than the October forecast and exceed 3 %. EPA/ARTEM KUDRYAVTSEV / RUSSIAN CENTRAL BANK PRESS SERVICE / HANDOUT HANDOUT EDITORIAL USE ONLY/NO SALES HANDOUT EDITORIAL USE ONLY/NO SALES

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