Russian Central Bank Raises Interest Rate to 13% From 12%

By Georgi Kantchev

The Russian central bank on Friday lifted its key interest rate to 13% from the previous level of 12%.

It follows a big rate increase in August to stem a sharp selloff in the ruble.

The central bank said it could consider further rate increases at future meetings as "significant pro-inflationary risks have crystallized" in the economy.

Write to Georgi Kantchev at [e-mail]

(END) Dow Jones Newswires

09-15-23 0711ET