Russia’s Central Bank raised the key interest rate by 100 basis points from 12 to 13 percent, it said in a statement Friday.
The bank last lifted its interest rate during an emergency meeting one month ago in August, where the rate was raised by 350 basis points to 12 percent. The decision back then was “aimed at limiting price stability risks” amid inflation pressure, it said.
It said that the decision to tighten monetary conditions was taken to limit inflation growth and further ensure that it returns to its 4 percent target in 2024.—Xinhua
