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Russian Inflation at Five-Year Peak Boosts Chances for Rate Hike

  • Expectations of 50 basis point increase hit bond auction
  • Central bank has raised rate 225 basis points so far this year
A a gas station operated by Bashneft PAO in Ufa, Russia. 

A a gas station operated by Bashneft PAO in Ufa, Russia. 

Photographer: Andrey Rudakov/Bloomberg

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Russian inflation hit a five-year high in August, fueling expectations that the central bank will opt for a bigger hike in its key rate Friday.