Emerging Markets Hike Rates to Get Ahead of Inflation

Russia’s central bank hiked interest rates by 75 basis points on Friday, bringing the overall rate to 7.5%.  That number stood at just 4.25% at the start of the year, and the bank has now enacted six hike rates in the meantime. Moreover, governor Elvira Nabiullina indicated that another 50-basis-point increase could be in the cards before the year is out.

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