Russian's Central Bank Raises Rate to 20% From 9.5% to Help Ruble Amid Western Financial Sanctions

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âš¡Russian's Central Bank Raises Rate to 20% From 9.5% to Help Ruble Amid Western Financial Sanctions

By PTI

Russian's Central Bank Raises Rate to 20% From 9.5% to Help Ruble Amid Western Financial Sanctions

The move will dramatically raise pressure on the ruble by undermining the financial authorities' ability to conduct hard currency interventions to prevent the ruble from sinking further and triggering high inflation. The ruble has sharply dived in early Monday trading.