Russia's central bank raised its benchmark rate by 100 basis points on Friday and maintained a hawkish bias as proinflationary risks are assessed to be substantial and the economy exhibits faster than previously envisaged growth.
The board of directors of Bank of Russia, headed by Elvira Nabiullina, decided to lift the key rate by 100 basis points to 16.00 percent.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.