{"id":13650,"date":"2022-03-01T16:26:27","date_gmt":"2022-03-01T16:26:27","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/russia-ups-repo-to-20"},"modified":"2022-03-01T20:31:33","modified_gmt":"2022-03-01T20:31:33","slug":"russia-ups-repo-to-20","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/russia-ups-repo-to-20","title":{"rendered":"Russia ups repo to 20%"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>THE war in Ukraine has started taking its toll on the Russian economy as the Central Bank of Russia raised its benchmark policy rate to 20% yesterday.<\/p>\n

This is the highest interest rate hike in Russia in almost 20 years, from 9,5% amid the broadening fallout from the European Union and United States (US) sanctions. The central bank said the rate hike was designed to offset the increased risk of rouble depreciation and inflation.<\/p>\n

It said that external conditions for the Russian economy had drastically changed as Western countries have shown solidarity in retaliation against Moscow’s invasion of Ukraine.<\/p>\n

\u201cThe increase of the key rate will ensure a rise in deposit rates to levels needed to compensate for the increased depreciation and inflation risks,\u201d it said in a statement.<\/p>\n

\u201cThis is needed to support financial and price stability and to protect the savings of citizens from depreciating.<\/p>\n

\u201cFurther key rate decisions will be made taking into account risks posed by external and domestic conditions and the reaction of financial markets, as well as actual and expected inflation movements relative to the target and economic developments over the forecast period.\u201d<\/p>\n

The governor of the Bank of Russia was set to release a statement yesterday afternoon in a follow-up to the board of directors’ meeting. Meanwhile, the Bank of Russia has temporarily banned brokers from selling Russian government securities at the instruction of non-residents.<\/p>\n

Trading sessions in the foreign exchange market, the money market, and the repo market of the Moscow Exchange have been temporarily suspended. Further, the central bank and the finance ministry ordered companies to sell 80% of their foreign currency revenues. The bank also said it would be freeing 733 billion roubles in local bank reserves to boost liquidity.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. THE war in Ukraine has started taking its toll on the Russian economy as the Central Bank of Russia raised its benchmark policy rate to 20% yesterday. This is the highest interest rate hike in Russia in almost 20 years, from 9,5% amid the broadening fallout from the European Union and United […]<\/p>\n","protected":false},"author":84,"featured_media":13649,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[234,236,233],"class_list":["post-13650","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nRussia ups repo to 20% - Namibia<\/title>\n<meta name=\"description\" content=\"THE war in Ukraine has started taking its toll on the Russian economy as the Central Bank of Russia raised its benchmark ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/russia-ups-repo-to-20\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Russia ups repo to 20%\" \/>\n<meta property=\"og:description\" content=\"THE war in Ukraine has started taking its toll on the Russian economy as the Central Bank of Russia raised its benchmark ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/russia-ups-repo-to-20\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-01T16:26:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-01T20:31:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/03\/img-621e82908b7ee.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"414\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/russia-ups-repo-to-20#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/russia-ups-repo-to-20\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Russia ups repo to 20%\",\"datePublished\":\"2022-03-01T16:26:27+00:00\",\"dateModified\":\"2022-03-01T20:31:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/russia-ups-repo-to-20\"},\"wordCount\":302,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/russia-ups-repo-to-20#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/03\/img-621e82908b7ee.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/russia-ups-repo-to-20#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/russia-ups-repo-to-20\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/russia-ups-repo-to-20\",\"name\":\"Russia ups repo to 20% - 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