Russia's Central Bank Raises Key Interest Rate to 5%
By Paul Hannon
Russia's central bank raised its key interest rate Friday, a
move that was partly intended to support the country's currency
amid continuing tensions with the West.
The central bank raised its key rate to 5% from 4.5%, having
last increased borrowing costs on March 19.
The move also reflects a recovery that the central bank expects
will lift the economy to its pre-pandemic level of output by the
middle of this year.
Write to Paul Hannon at firstname.lastname@example.org
(END) Dow Jones Newswires
April 23, 2021 06:59 ET (10:59 GMT)
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