Economy

xchrom

(108,903 posts)

16. Russia's surprise interest rate rise 'to curb inflation'

Sat Jul 26, 2014, 07:03 AM

Jul 2014

http://www.bbc.com/news/business-28483159

Russia's central bank has unexpectedly raised its key bank interest rate over concerns about inflation and "geopolitical tension".

The bank's board decided to raise the interest rate by 50 basis points, or half a percent, to 8% per year.

Analysts said that they had not expected the move.

The rate hike will come after Western sanctions over the crisis in the Ukraine were boosted.

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