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By raising key rate Bank of Russia responded to warming up inflation says Putin

On July 21, at the last meeting of the Board of Directors of the Bank of Russia, the regulator raised the key rate by 1 percentage point at once, to 8.5%

MOSCOW, August 8. /TASS/. President Vladimir Putin believes that the Bank of Russia was forced to raise the key rate as a response to the heating of inflation.

On July 21, at the last meeting of the Board of Directors of the Bank of Russia, the regulator raised the key rate by 1 percentage point at once, to 8.5%.

"The rate has risen because there are trends associated with heating up inflation, and the Bank of Russia, as a key organization responsible for maintaining macroeconomic stability, was forced to react accordingly," Putin said at a meeting on the development of the construction industry.

During the conversation, the chairman of the board of directors of BTS-Most Group of Companies, Ruslan Baysarov, noted that the increase in the key rate "complicates the implementation of large infrastructure projects." In this regard, according to Baysarov, BTS-Most, together with large Russian banks and private investors, "have developed a mechanism that helps attract private investment for the construction of strategically important facilities." Baysarov turned to the President with a request to instruct the government to work out this option together with the authors of the initiative.

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Anti-Russian sanctions

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