Russian households’ inflation expectations unchanged at 13.4% in November

MOSCOW (Reuters) – Inflationary expectations among Russian households for the year ahead stood at 13.4% in November, unchanged from October, yet still at their highest level for the year, the central bank said on Monday.

The central bank raised its benchmark interest rate to 21% last month, the highest level in over 20 years, citing high inflation and elevated inflationary expectations as the main reasons for the move.

The central bank board will convene for the next rate-setting meeting on Dec. 20.