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International Business Times
International Business Times
World
AFP News

Russian Central Bank Hikes Key Rate To Fight Inflation

Russia Inflation Elvira Nabiullina Ukraine
Russian central bank governor Elvira Nabiullina said Russian businesses were facing higher costs and payment problems as the West puts pressure on Russia's trading partners to stop helping it circumvent sanctions (Credit: AFP)

Russia's central bank raised its key interest to 18 percent on Friday, the sixth hike in just over a year as it seeks to tame soaring price rises.

Governor Elvira Nabiullina said Russian businesses were facing higher costs and payment problems as the West puts pressure on Russia's trading partners to stop helping it circumvent sanctions.

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