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Russia Central Bank Adopts Bigger-Than-Expected Rate Hike To Fight Inflation

Por: RTTNews Business October 27, 2023

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The Bank of Russia raised its benchmark rate by a bigger-than-expected 200 basis points on Friday as inflationary pressures moved significantly above expectations.The board of directors headed by Elvira Nabiullina decided to lift the key rate to 15.00 percent from 13.00 percent. Markets were anticipating a 100 basis point increase. The bank has raised the policy rate by 750 basis points over the last four meetings. The board said the decision... + full article



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