Post by Ben Novalis on May 31, 2011 2:59:52 GMT 4
Russia on Monday unexpectedly raised its deposit interest rate by 0.25 percentage points to 3.5 percent in a bid to curb inflation.
Although inflation slowed somewhat in May, it is still at 9.7 percent, far above the government’s target of 7 percent.
The Central Bank raised its refinancing rate from 8 percent to 8.25 percent late April.