Russia Raises Interest Rates to Boost Ruble


MOSCOW—Russia’s central bank raised interest rates Friday, moving to defend the ruble against market volatility and inflation as global investors question the outlook for emerging-market economies and the possibility of fresh U.S. sanctions.

The Bank of Russia raised its key interest rate to 7.5% from 7.25%, ending a series of cuts that brought it down from a peak of 17% at the end of 2014 that was introduced in the wake of earlier sanctions imposed on the country by the U.S. and Europe.

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