The Central Bank of Russia has raised interest rates to 6.75 percent in its continuing fight to contain rising inflation, which threatens to damage the country’s economic recovery in the aftermath of the coronavirus epidemic, Moscow Times writes.
Following a meeting of its rate-setting committee on Friday, the bank announced its fourth consecutive rate rise – an increase from the previous level of 6.5 percent.
Economists had largely anticipated the decision, but most had thought the bank would go much farther and increase rates to 7%.
Over the summer, inflation in Russia reached its highest level in five years, with prices increasing at …
