The graph above shows changes in the key rate in Russia from 2014 to 2023. Summarize the information by selecting and reporting the main features. Write at least 150 words.
The graph shows the history of changes in the key rate from 2013 to 2024. We see that at the beginning of this period, the key rate is 5.5%. Then, during the year, it remains at the same level, then it beginning to rise rapidly in 2014. As of 12/16/2014, the rate is 17%. This decision was driven by the need to limit inflationary risks. Over the next 5 years, it began to fall gradually. On 07/27/2020, the key rate reached its lowest point at 4.25%. One of the main reasons for the decision was the restrictive measures imposed due to the coronavirus pandemic. It remained at the same level for 8 months. Further, the rate began to grow gradually and reached 9.5% on 02/14/2022. As we can see from the chart, the key rate reached its highest point on 02/28/2022. This is the historical maximum of the key rate. Before that, the record value was considered to be the rate of 17%, set in December 2014. The Central Bank explained the sharp increase in the key rate from 9.5% to 20% by the external conditions for the Russian economy that had changed dramatically. According to the Bank an increase in the key rate will ensure an increase in deposit rates to the levels necessary to compensate for increased devaluation and inflation risks. This will help maintain financial and price stability and protect citizens' savings from depreciation. As shown in the graph, the current value is 16%, which has been valid since December 18 of the previous year. According to experts, the Central Bank of Russia may return to reducing the key rate in the summer of 2024 to 13%.
The graph shows the history of changes in the key rate from 2013 to 2024.
ОтветитьУдалитьWe see that at the beginning of this period, the key rate is 5.5%. Then, during the year, it remains at the same level, then it beginning to rise rapidly in 2014.
As of 12/16/2014, the rate is 17%. This decision was driven by the need to limit inflationary risks.
Over the next 5 years, it began to fall gradually.
On 07/27/2020, the key rate reached its lowest point at 4.25%. One of the main reasons for the decision was the restrictive measures imposed due to the coronavirus pandemic. It remained at the same level for 8 months.
Further, the rate began to grow gradually and reached 9.5% on 02/14/2022.
As we can see from the chart, the key rate reached its highest point on 02/28/2022. This is the historical maximum of the key rate. Before that, the record value was considered to be the rate of 17%, set in December 2014.
The Central Bank explained the sharp increase in the key rate from 9.5% to 20% by the external conditions for the Russian economy that had changed dramatically. According to the Bank an increase in the key rate will ensure an increase in deposit rates to the levels necessary to compensate for increased devaluation and inflation risks. This will help maintain financial and price stability and protect citizens' savings from depreciation.
As shown in the graph, the current value is 16%, which has been valid since December 18 of the previous year.
According to experts, the Central Bank of Russia may return to reducing the key rate in the summer of 2024 to 13%.