Russia is racing to stem a rally in the ruble and is set to accelerate interest-rate cuts as the currency’s advance to a four-year high against the dollar damages government finances and exporters. The central bank will hold an unscheduled meeting Thursday, where analysts expect it will announce another dramatic monetary step to tame the world’s best-performing currency this year. The institution didn’t comment on options on the agenda, but officials have said further rate cuts are likely as inflation has declined since an emergency rate hike in the days after Russia’s Feb. 24 invasion of Ukraine. Despite the sweeping sanctions imposed on Russia, surging exports and capital controls that have sapped demand for foreign exchange have sent the ruble soaring to the highest levels since 2018. Efforts by the […]