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Russian central bank raises key interest rate to 16% to counter inflation
Russian central bank raises key interest rate to 16% to counter inflation
by  AFP

Russia's central bank on Friday raised its key interest rate to 16 percent, announcing a fifth hike since summer in a bid to fight accelerating inflation. Analysts expected the increase as the central bank repeatedly stated its priority to fight inflation, which accelerated to 7.5 percent in November.

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