Russia hikes to strengthen rouble

The Central Bank of Russia has raised its key rate by a full percentage point to a three-year high in a bid to shore up the battered rouble.

The central bank raised its rate for overnight credit from 12% to 13% on Friday. It is the second percentage-point hike this month and the sixth this year.

Rates are now at their highest since December 2005.

The central bank is thought to be allowing the rouble to depreciate and to have widened its currency band by 30 kopeks (1 cent). But Friday's hike

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: