Russia Raises Rate For First Time Since 2014 In Surprise Move

Russia's central bank unexpectedly raised its key interest rate for the first time since 2014 on Friday, citing significant increase in inflation risks due to highly uncertain external conditions. The Board of Directors decided to raise the key rate by 0.25 percentage points to 7.50 percent, the Bank of Russia said in a statement. Economists had expected the bank to hold the rate steady.
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