THIS IS HOW WELL THE RUSS ECONOMY IS DOING .......


Russia’s Central Bank hikes interest rate as inflation soars

Russia’s Central Bank on Friday raised its key lending rate to its highest level in more than two years to stem soaring inflation in an overheated economy hit by Western sanctions in response to Moscow’s military action in Ukraine.

The bank raised the rate by 200 basis points to 18.00%

, noting that inflation has accelerated and is developing “significantly above” its forecast.

“Growth in domestic demand is still outstripping the capabilities to expand the supply of goods and services,” the bank said in a statement. “For inflation to begin decreasing again, monetary policy needs to be tightened further.”

https://apnews.com/article/russia-inflation-central-bank-interest-rate-3e38be1ceb58c7cbdfde674e591f1975