Bloomberg Bank of Russia may have stunned bond and currency markets with the size of its rate hike, but entrenched inflation means traders shouldn’t assume the hawks are done. “It’s too early to say the tightening cycle is over,” Governor Elvira Nabiullina told a press conference after lifting the main rate 75 basis points to 7.5%, the sixth straight hike …

Bloomberg ICICI Bank Ltd.’s net income rose about 30% in the second quarter to a record, led by strong loan growth as consumer demand improved after a drop in the number of coronavirus cases. Net income at the country’s second-largest private lender stood at the highest-ever 55.1 billion rupees ($735 million) in the quarter-ended September, compared with 42.5 billion rupees …

Bloomberg Nigerian President Muhammadu Buhari will launch a digital currency on Monday aimed at improving the payments system in the West African nation, according to the central bank. The eNaira, which took several years to develop, will “make financial transactions easier and seamless for every strata of the society,” the Central Bank of Nigeria said in emailed statement. The digital …