Russia Hikes Interest Rates in Battle to Tame Inflation


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The regulator raised interest rates to 5% in a meeting Friday.

Russia has raised interest rates in a bid to stem accelerating inflation which threatens to undermine its economic recovery.

The Central Bank hiked rates to 5% in a meeting Friday, an increase from the previous level of 4.5%, and the second hike following an increase at the bank’s rate-setting meeting in March.



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