Russia's central bank unexpectedly raised its key interest rate Friday, citing higher than forecast inflation and a faster than expected recovery in domestic demand.The Board of Directors decided to increase the key rate by 25 basis points to 4.50 percent, the Bank of Russia said in a statement. Economists had expected the rate to remain at 4.25 percent.The previous change in the rate was a quarte...
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.