There is a new date of Jun 10, 2022.
Inflation in Russia may have peaked after reaching a two-decade high after the country was hit with a slew of Western sanctions.
The Russian Central Bank is located in Moscow.
Since the key rate was hiked to 20% on February 28, the central bank has cut interest rates by an average of 150 basis points.
The Russian central bank acknowledged that the external environment for the country's economy remained difficult.
The country's economic decline was less than expected in April, despite the regulator's claims that inflation was slowing faster.
As of June 3, the annual inflation was at 18%, down from a two-decade high of 17.8% in April.
By the end of 2022, inflation is expected to be between 14 and 17%, and then it is expected to fall to 5 and 7 in the years to come.
55.03. As of Friday morning, that is the exchange rate for the ruble. The Russian currency hit an all-time low of 150 against the dollar in March but has since rebounded, aided by the Kremlin's decision to severely curb transfers of money abroad.
Global companies that were forced to leave Russia because of sanctions have incurred huge losses. More than 1,000 western businesses have left Russia and face losses of more than $60 billion. The oil companies have recorded losses of over 25 billion dollars so far, including a loss of over 3 billion dollars by ExxonMobil. Russia has refused to return passenger jets that were leased out to the country's airlines by the likes of Ireland's AerCap, which has written off over two billion dollars.
The interest rate was cut back to prewar levels.
Business losses from Russia top $60 billion as sanctions hit.
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