Central Bank leaves key Russian interest rate alone

The Central Bank  this week decided to put a key Russian interest rate on hold, citing concerns about high inflation, but said further rate hikes were possible if inflation remained above target. The decision leaves the bank’s major policy rate – the one-week minimum auction repo rate – unchanged at 7.5% after cumulative rate hikes of 200 basis points in March and April linked to financial instability caused by the crisis in Ukraine. The Moscow Times