Russia's Central Bank Raises Rates to Fight Inflation Despite Recession Risks
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Russia's central bank raised interest rates to combat high inflation, despite risks of recession.
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Price growth has doubled in recent months due to labor shortages and heavy war spending.
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Policymakers face a disconnect as election spending competes with inflation fight.
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Central bank may continue raising rates, with no coordination with government.
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Tight monetary policy threatens to spur economic contraction next year.