Russia's central bank delivered another sharp interest rate hike on Friday, citing crystallizing significant proinflationary risks.
The board of directors of the Bank of Russia decided to raise the key rate by 100 basis points to 13.00 percent. The outcome of the meeting widely matched the expectations.
The bank had previously hiked the rate by 350 basis points at an emergency meeting in August after the ruble breached 100 against the US dollar.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.