Russia hikes key interest rate

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Moscow - Russia's central bank unexpectedly raised its main interest rate by a half point on Friday, warning that geopolitical tensions were pushing up inflationary risks.

“Furthermore inflationary risks have increased, including due to increased geopolitical tensions and their possible effect on the dynamic of the exchange rate of the national currency,” the Bank of Russia said in a statement in an apparent reference to the crisis in Ukraine and Western sanctions against Russia. - Sapa-AFP

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