Russian Central Banks Raises Rates A Massive 200 Basis Points
The Kremlin has overseen a booming economy in the face of crippling Western sanctions, but inflation remains a stubborn problem.
The Kremlin has overseen a booming economy in the face of crippling Western sanctions, but inflation remains a stubborn problem.
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Russia Raises Rates To Stop Ruble Decline And Confront Possible Higher Inflation.
Russia unexpectedly cut its short-term interest rates by 25 basis points to 9.75% as inflation had subsided faster than had been foreseen. Most economists had expected the Bank of Russia to keep rates where they were. The cut was the first in seven months. The most likely reason for the…