Ukraine more than doubles interest rates as it fights economic crisis

Central bank moves to stem double-digit inflation and protect currency, taking borrowing to highest level since 2015

Ukraine more than doubled interest rates to 25% on Thursday in a move to try to stem double-digit inflation and protect its currency, which has collapsed since Russia's invasion.

In the first interest rates intervention since Vladimir Putin's troops attacked on 24 February, the Ukrainian central bank's governor, Kyrylo Shevchenko, increased the benchmark interest rate from 10% to 25%.