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Bank of Russia Broaches Possible Rate Hike as Policy Upended

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Russia’s central bank edged closer to raising interest rates for the first time since 2014 as its counterparts across emerging markets resort to higher borrowing costs to counter slumping currencies and inflation risks.

Governor Elvira Nabiullina said Tuesday that there were factors in favor of raising interest rates at a meeting next week, even though most evidence still pointed toward leaving borrowing costs unchanged.