The second increase this year comes amid persistent inflationary pressure, according to the regulator The Bank of Russia has raised its key interest rate from 18% to 19%, citing persistent inflationary pressures. Domestic demand continues to exceed the economy’s capacity to produce goods and services to meet it, the regulator said in a statement on Friday. Inflation is expected to be above the bank’s July forecast of 6.5-7.0% this year, the statement added. The increase in consumer prices stood at 9.1% year-on-year in August, more than double the government target of 4%. ”Additional monetary tightening is needed
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