Russian central bank chief hints at rate hike

Russian President Putin chaired a meeting with various government officials in Moscow focusing on the country's strategic priority development programs.

Russia will consider raising interest rates before the end of the year, the head of the central bank said Wednesday. Moscow has taken rates to a two-decade high of 21 percent. Inflation is running at more than twice the government's 4.0-percent target, and central bank Governor warned that it might not reach that level until 2026. President Putin said it was "necessary to restrain inflation".