Central Bank announces third 2014 Russian interest rate rise

Third 2014 Russian interest rate rise: The Central Bank of Russia has unexpectedly raised its key borrowing rate for a third time this year in expectation of heightened international economic sanctions against Russia over the unrelenting crisis in Ukraine. The key rate has been put up from 7.5% to 8% with the bank arguing that despite the slowdown in economic growth, keeping inflation under control remained its key priority. The Moscow Times