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Russia's central bank raises key interest rate from 8.5% to 12% in extraordinary meeting

Russia's central bank raises key interest rate from 8.5% to 12% in extraordinary meeting
That's a whopping 350 bps rate hike as Russia tries to stem the bleeding in the currency, which has been on a massive downtrend amid the economic fallout from the conflict with Ukraine. The central bank already hinted at a rate hike and USD/RUB did lose some ground since the announcement yesterday, now trading at 95.93 on the day. This article was written by Justin Low at www.forexlive.com... Read More
Posted: Aug 15 2023, 07:36
Author Name: forexlive
Views: 112561

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