and in case you missed it .... interest rwtes going from 8.5% in russia to 12%
yep things are going real fine in the rusisan economy !Russia hikes interest rates after rouble slides
Russia has hiked interest rates to 12% after the rouble fell to its lowest value in 16 months.
The rouble fell past 100 per US dollar on Monday, prompting Russia's central bank to hold an emergency meeting.
The Bank of Russia said it decided to raise interest rates from 8.5% to curb inflation, which hit 4.4% in August.
Pressure has been mounting on the Russian economy due to imports rising faster than exports and military spending growing for the Ukraine war.
"Steady growth in domestic demand surpassing the capacity to expand output amplifies the underlying inflationary pressure and has impact on the rouble's exchange rate dynamics through elevated demand for imports," the Bank of Russia said in a statement.
https://www.bbc.com/news/business-66508154
"Steady growth in domestic demand surpassing the capacity to expand output
- Forums
- World Politics
- Russia Ukraine war
Russia Ukraine war, page-166948
-
- There are more pages in this discussion • 62,295 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Featured News
The Watchlist
RCE
RECCE PHARMACEUTICALS LTD
James Graham / Dr Alan Dunton, MD & CEO / Non-Executive Director
James Graham / Dr Alan Dunton
MD & CEO / Non-Executive Director
SPONSORED BY The Market Online