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The Russian Central Bank has raised its key rate to 21%. This is a record since the Central Bank switched to this instrument in 2013. Previously, the refinancing rate was used: it was at 21% more than twenty years ago, and before that it was even higher. The head of the Central Bank, Elvira Nabiullina, said that the economy is less responsive to the bank's decisions, and again worsened the inflation forecast. Why is the Central Bank raising the rate and what will this lead to? Will prices continue to rise rapidly? Will it become even more profitable to open deposits in banks? And what about loans? Listen to the audio version of Meduza's analysis. You can read it here https://storage.googleapis.com/gsc-li... ???? Radio Meduza is available in our app (https://meduza.page.link/FXLJ ), on podcast platforms (https://lnkfi.re/radiomeduza ) and on YouTube ( • Radio Meduza )