Your new post is loading...
The Bank of Russia raises rates more than expected to try to lower inflation and boost the rouble.
|
Scooped by Graham Watson |
Scoop.it!
No comment yet.
Sign up to comment
The Bank of Russia has surprised many with a 2% rise in interest rates as the central bank looks to reduce inflation, although Russian inflation is lower than UK inflation at 6%, and its inflation target is higher, 4% - something that I didn't know and will now add to my teaching.
However, a bigger problem has been the depreciation of the rouble, which is now trading at more than 100 to the dollar, and will continue to fuel inflation.