Central Bank of Russia Moves Key Rate to 17%

Posted on 12/15/2014


Russia’s central bank in an unprecedented move boosted its benchmark interest rate – the most since the country’s default in 1998. The announcement was made in the middle of the night. The Central Bank of Russia increased the key rate to 17% from 10.5% effective today. The repo rate was increased to 18% from 11.5%. […]