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Banking, Economy

“Russia’s Central Bank hikes interest rate as inflation soars”

“…The bank raised the rate by 200 basis points to 18.00%, noting that inflation has accelerated and is developing “significantly above” its forecast.

It noted that inflationary risks have been driven by high inflation expectations and changing trade terms as a result of “geopolitical tensions,” a reference to Western sanctions against Russia over its action in Ukraine…”

https://finance.yahoo.com/news/russias-central-bank-hikes-interest-124625284.html

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