The Central Bank of Russia said it was keeping its key rate unchanged, saying lower crude oil prices could lead to an accelerated rate of inflation. The Bank of Russia said it was maintaining its interest rate at 11 percent, citing potential for further pressure on inflation and currency valuations. Citing oil prices as a risk factor , the bank said negative pressure was sustained by an over-supplied market and slowing in the Chinese economy. “This, in its turn, caused the national currencies to weaken and asset prices to drop in emerging markets, affecting Russia,” the bank said. The Russian economy depends heavily on crude oil and natural gas exports, leaving the budget under pressure in the market downturn. Russian President Vladimir Putin has suggested […]