Russia Economy

In this photo taken from video released by Russian Central Bank Press Office, Russian Central Bank Chief Elvira Nabiullina speaks to journalists during a news conference at the Russian Central Bank in Moscow, Russia, Friday, July 26, 2024. Russia's Central Bank has raised its key lending rate to the highest level in more than two years to stem soaring inflation in an overheated economy hit by Western sanctions in response to Moscow's military action in Ukraine. The bank on Friday raised the rate by 200 basis points to 18.00%, noting that inflation has accelerated and is developing "significantly above" its forecast. (Russian Central Bank Press Office via AP) XAZ117