“Russia’s Central Bank hikes interest rate as inflation soars”
July 29, 2024
“…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