MOSCOW - Russia’s central bank raised its key interest rate for the third time in two months on Friday as it grapples with higher infla­tion and a weaker ruble. Inflation in Russia accel­erated over the summer and has remained stub­bornly high, with the cen­tral bank failing to meet its target of four percent. The central bank said its board of directors decided to in­crease the key rate from 12 percent to 13 percent. “Inflationary pressure in the Russian economy re­mains high,” the bank said in a statement. The bank also pointed to the “de­preciation of the ruble”, which has shed around 30 percent of its value against the dollar since the start of the year. “The Bank of Rus­sia will assess the feasibil­ity of further increases of the key rate at its upcom­ing meetings,” it said. The central bank last hiked its key rate at an emergency meeting in August, a day after the ruble tumbled to a more than 16-month low against the dollar.