Russia's central bank raises key interest rate to 18 pct

MOSCOW, July 26 (Xinhua) -- Russia's central bank has raised its key interest rate by 200 basis points from 16 to 18 percent, it said in a statement Friday.

Inflation continues to rise and currently surpasses the bank's April forecast, the bank said, adding that domestic demand continues to grow faster than the capacity to expand supply.

The central bank has revised its inflation forecast for 2024, raisin