Russian Central Bank Hikes Key Rate After Ruble Falters

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On Tuesday, there was a rate increase by Russia’s central bank; raising its key interest rate from 8.5-12%. This was announced to shield the economy from inflationary pressure and to reach its inflation mark in 2024. This prompted the Russian ruble to crash to a 16 month low against the dollar, leading one Kremlin aide to criticise “loose monetary policy” in state media.

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Robert Wilson author
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