Russia’s vital financial institution cut its key interest price Thursday following an emergency meeting, as the government is looking to rein in the ruble which has surged in cost despite the war in Ukraine. The Bank of Russia slashed the rate to eleven percent from 14 percent, pronouncing external situations for the financial system to … Read more
Russia’s central bank announced on Friday that it was lowering its key interest rate for the second time in a row, citing a reduction in the risks of price surges and financial instability. The Bank of Russia said it would drop the rate from 17 percent to 14 percent starting next week, a bigger cut … Read more
Russia’s monetary outlook has worsened as a critical bank survey on Thursday confirmed a deeper contraction than previously anticipated and inflation soaring to 22 percent this year. While President Vladimir Putin insists the economy has managed to climate the barrage of unprecedented sanctions imposed in view that he sent troops to Ukraine on February 24, … Read more
