Reuters
Russian rouble dips in Moscow, down near 25% over 4 weeks
The central bank kept its key interest rate unchanged on Friday, in line with a Reuters poll of analysts, following an emergency rate hike in late February, but warned of higher inflation and an economic contraction this year, without giving new forecasts. The central bank’s actions have come in support of an economy buckling under the stress of sanctions from across the globe, triggered by Russia’s invasion of Ukraine late last month. U.S. President Joe Biden sought to prevent Beijing giving new life to Russia’s troops in a video call with President Xi Jinping on Friday as stalled Russian forces pressed on with bombardments of towns and cities.
