: Russia hikes interest rates by 3.5 percentage points


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Responding to a rapidly deteriorating ruble, the Bank of Russia hiked its key interest rate on Tuesday by 3.5 percentage points to 12%.

The Bank of Russia said steady growth in domestic demand was surpassing the capacity to expand output.

At the same time, elevated demand for imports has impacted the ruble.


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Alexandra Williams
Alexandra Williams
Alexandra Williams is a writer and editor. Angeles. She writes about politics, art, and culture for LinkDaddy News.

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