Russia Raises Interest Rates to 15% to Fight Inflation and Support Rouble

Russia's central bank raised interest rates to 15% to curb inflation and support the rouble.

Inflation in Russia hit 6% in September due to supply disruptions from the Ukraine war.

The rate hike is the 4th in a row, raising rates by 7.5% since July to get inflation to 4%.

The rouble initially plunged after the Ukraine invasion but rebounded due to capital controls.

EU sanctions on Russia have disrupted trade and cut oil production and exports.