Ukraine crisis: Russia’s central bank hikes key interest rate to two-decade high of 20 per cent to shield economy from Western financial sanctions

Feb 28, 2022 | INVESTING

The Bank of Russia raised its key interest rate to the highest in almost two decades and imposed some controls on the flow of capital in a bid to shield the economy from the impact of sweeping Western sanctions that include penalties on the regulator itself.The interest rate will increase from 9.5 per cent to 20 per cent, the central bank said in a statement before rouble trading was due to open at 10am local time. It also temporarily banned brokers from selling securities held by foreigners…

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