The yield on government bonds in the secondary market sharply increased after the Bank of Russia's meeting. Long-term OFZ exceeded 15% per annum, while short-term reached 16.5%. This is reported by "Kommersant". The regulator maintained the key rate at 21%. The Central Bank's comments were tougher than market participants expected.
"Nevertheless, price pressure remains high, and inflation expectations are elevated. This means that we need to maintain tight monetary conditions for a long time," emphasized the Chairwoman of the Bank of Russia Elvira Nabiullina during a press conference last Friday.