Russia's central bank raises interest rates to 12% after the ruble plunges | CNN Business
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Russia’s central bank hiked its main interest rate by 3.5 percentage points to 12% Tuesday after the ruble hit a 17-month low the previous day.
    • Anomandaris@kbin.social
      01·
      1 year ago

      It seems like their economy is reliant on a series of short term fixes, and as each one winds down another bigger one needs to take its place.

      12% interest is another example of this, it will improve things in the short term but has no effect on the underlying problems, meaning that in a couple of months or so something even more drastic will be needed.