OREANDA-NEWS The Central Bank of Russia kept the key rate at 16% per annum following the meeting of the Board of Directors on March 22. The Central Bank's management makes such a decision for the second time in a row, explaining that a tight monetary policy is necessary to curb inflation. The rate has remained unchanged since December last year.

The current inflationary pressure continued to decrease compared to the autumn months, but still remains high, and domestic demand continues to significantly outpace the possibility of expanding production of goods and services, the Central Bank said.

Earlier, leading economists explained aif.ru the logic of the regulator, guided by which it makes decisions on the key rate.