Russia’s central bank hiked its key interest rate by a greater-than-expected 100 basis points to 8.5 per cent on Friday, raising the cost of borrowing as the weak rouble added to inflation pressure from a tight labour market and strong consumer demand.
Russian central bank surprises with sharper-than-expected rate hike to 8 5% By Reuters investing.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investing.com Daily Mail and Mail on Sunday newspapers.