British intelligence revealed new problems of the Russian economy.

The Russian Central Bank maintains the interest rate at 21% until 2024

The Russian Central Bank has decided to keep the interest rate at 21% until December 20, 2024. This indicates a change in approach to combating inflation. Previously, in October 2024, the rate was raised from 19% to 21%, which became the highest level since the beginning of the war in Ukraine in 2022.

This was reported by the UK Ministry of Defence, citing intelligence data.

Despite the dissatisfaction of Russian businesses with high interest rates, inflationary pressure continues to grow, particularly due to the weakening of the ruble.

In November 2024, the Russian ruble fell to its lowest level against the US dollar since the invasion of Ukraine, reaching 114 rubles per dollar. This decline was triggered by the announcement of sanctions against Gazprombank and the publication of economic statistics indicating overheating of the Russian economy.

In response, the Central Bank of Russia announced a halt to foreign currency purchases until 2025.

Although the ruble remained above 100 per dollar until December 20, 2024, the market anticipated a further increase in the interest rate. The decision to maintain the current level of the rate will likely lead to imbalances in the economy due to inflation, devaluation, labor shortages, and high state expenditures.