Finance


Russia’s Central Bank acts to control inflation, raises interest rate to 12 percent

Russia’s Central Bank acts to control inflation, raises interest rate to 12 percent

Kathmandu, August 16. Russia’s Central Bank announced on Tuesday its decision to raise the key interest rate by 350 basis points, reaching 12 percent. During an emergency meeting, the bank revealed its intention to increase the interest rate, citing the need to manage price stability risks amidst mounting inflation pressure. “As of August 7, the

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