A bitcoin sculpture made from scrap metal is installed outside the BitCluster cryptocurrency mining farm in Norilsk, Russia, on Sunday, Dec. 20, 2020. Norilsk may soon be famous for a different type of mining - it now hosts the Arctic's first crypto farm for producing new Bitcoins. Photographer: Andrey Rudakov/Bloomberg
MOSCOW: Russia's central bank held its key interest rate at a record low of 4.25% on Friday and said it will not cut rates further, planning instead to start gradually raising them at some point in the future when inflation stabilises near its target.
Russia slashed rates in 2020 to help its economy through the COVID-19 pandemic, related lockdowns and a drop in the price of oil, the country's main export.
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