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bank of russia hikes interest rates for the first time since 2014

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bank of russia hikes interest rates for the first time since 2014

russia’s central bank unexpectedly raised interest rates for the first time since 2014, following its counterparts across emerging economies as inflation risks mount with a slumping currency and threats of u.s. sanctions.the benchmark was raised to 7.5 percent from 7.25 percent, according to a statement on friday. only two of 42 economists surveyed by bloomberg predicted an increase, with the rest seeing no change. policy makers said they will also “consider the necessity of further increases.” governor elvira nabiullina will hold a news conference at 3 p.m. in moscow, followed by the release of updated economic forecasts.“given what’s happening in the markets, investors expect some reaction — a combination of concrete actions ...