Russia raises interest rate to 15% after steep climb in inflation
by Phillip Inman from on (#6FXE6)
Two-point rate rise surprises analysts as central bank blames 6.6% inflation on consumer demand
Russia's central bank has increased interest rates by more than expected, to 15%, after a steep rise in inflation.
The bank blamed the war-torn economy's limited capacity to respond to an increase in consumer demand for the rise in inflation to 6.6% in October, from 6% in the previous month.
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