Russian central bank holds interest rate at 21% despite business backlash | Euronews Newsletter Events Search Loader Newsletter Events Search Loader Loader Search
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ADVERTISEMENT Russia's central bank has announced it will hold its benchmark interest rate at a record 21%, despite fierce backlash from influential business leaders. The move comes despite high consumer inflation, which has been fuelled by military spending on the Kremlin's war against Ukraine. The central bank's governor, Elvira Nabiullina, justified the move by explaining that lending to companies had tightened more than expected due to the October rate hike that brought the benchmark to its
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