Russian Central Bank Hikes Rates
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high inflationInsider
•Russia's central bank hikes interest rate to 21% to fight stubborn inflation
84% Informative
Inflation in Russia hit 8.6% year-on-year in September , well above the central bank's 4% target.
It has largely been driven by heavy defense spending amid the ongoing war in Ukraine .
Moscow has long been battling high inflation and warnings of an overheating economy.
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