The Bank of Russia has raised its key interest rate to 17 percent - TopicsExpress



          

The Bank of Russia has raised its key interest rate to 17 percent from 10.5 percent in a desperate move to boost its currency and rescue its troubled economy. The action announced Tuesday in Moscow comes after the rubles value has sunk roughly 50 percent since January, battered by Western sanctions imposed over the conflict in Ukraine and plunging worldwide oil prices. The falling ruble threatens to escalate Russias inflation to dangerous levels and paralyze the economy. Karma...I believe...
Posted on: Tue, 16 Dec 2014 06:00:25 +0000

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