Russia hikes rates to 13% in scramble to lower inflation and prop up the sagging ruble
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Russia’s central bank just hiked interest rates to 13% to lower inflation and prop up the ruble.
Central bankers have raised their inflation forecast for the year to 7.5% well-above the targeted 4%.
Meanwhile, the ruble is trading close to a 16-month low against the dollar.
Russia’s central bank…
Tags hikes inflation prop rates Ruble Russia Sagging Scramble
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