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(Bloomberg) -- Russia kept interest rates unchanged on Friday, shifting toward more cautious guidance as inflation risks from a persistently tight labor market and growing consumer spending limit the central bank’s options.Most Read from BloombergJavier Milei Fuels Wild Rally That Makes Peso No. 1 in WorldPlunging Home Prices, Fleeing Companies: Austin’s Glow Is FadingHuawei’s New Phone Runs Latest Version of Made-in-China ChipUS Economy Slows and Inflation Jumps, Damping Soft-Landing HopesFed’s

Russia may miss its revenue target for 2024 and be forced to increase business taxes if the rouble strengthens more than expected and economic assumptions fall short, according to analysts. The country's budget plans project Brent crude prices averaging $85 per barrel next year, but there are concerns the Urals price could fall below $60 in 2024-2026.

Russia could miss its 2024 revenue target and be forced to hike business taxes if the rouble proves stronger than expected in the budget and optimistic economic assumptions fall short, analysts...

The extraordinary rate meeting came after the ruble plummeted past the 100 threshold against the dollar on Monday

Russia's central bank hiked interest rates to 12% in a sudden move to counter the rouble's sharp decline.