Posted on 04/08/2022 7:04:24 AM PDT by marcusmaximus
he Russian central bank sharply cut its key rate to 17% on Friday and said future cuts were possible, as emergency steps had contained the risk to financial stability, brought deposits back to banks and helped limit the threat of inflation, it said.
-snip-
Annual inflation in Russia accelerated to 16.70% as of April 1, its highest since March 2015 and up from 15.66% a week earlier, as the volatile rouble sent prices soaring amid unprecedented Western sanctions which cut Russia off the global financial markets and limited its trade with the outside world.
External conditions for the Russian economy remained challenging and were "considerably constraining economic activity", the central bank said, but added that it "holds open the prospect of further key rate reduction at its upcoming meetings".
(Excerpt) Read more at money.usnews.com ...
Our nation is being invaded.
Looks as though things are stabilizing inside Russia, particularly with respect to the Ruble, which is now virtually at it’s pre-war level.
An interest rate at 17% is not “normal.” It is impossible to spin that into a positive.
It merely doesn’t suck as much as it did.
Look at the good news: Our interest rate is working to catch up with it. :)
Joe Biden said the ruble was rubble. I wonder who wrote that clever line for his speech.
“Annual inflation in Russia accelerated to 16.70%….”
Biden sez “Hold muh beer…uhhh…vodka.”
Seriously, lowering the rates to 17% is still insanely high.
Dementia Joe and KGB Putin are in an inflation race.
“An interest rate at 17% is not “normal.” It is impossible to spin that into a positive. It merely doesn’t suck as much as it did.”
Well, I doubt they’ll cut 10 points in one day. Any thoughts on the Ruble these days?
“Joe Biden said the ruble was rubble. I wonder who wrote that clever line for his speech.”
We were telling them it was FUTILE, with China, India, and most of the Third World still trading with Russia. They didn’t care.
Please focus on America.
LOL, Barney Rubble. Thanks for the laugh. We all need some laughs.
Please stop with your Neocon obsession. The Ukraine war is over, leaving the pain of America’s middle class the issue of concern for us.
When my parents retired in 1982, US interest rates were that high, and my Dad put his retirement savings and pension $$ into 30 year US Treasuries. They lived well into their 90s and that decision took care of them very well throughout their retirement. Very positive for them.
The Russian military seems to be stuck in Soviet times. However their bankers have learned quickly. They are maximizing Russia’s enormous energy revenue not only to fund this disastrous war but to stabilize and even enhance their currency.
The war is going so well for your comrades in Russia that the Russian Federation spokesnazi Maria Zakharova in giving a drunk press conference, ranting about Ukrainian borscht.
You really chose the wrong side to root for.
Zakharov drunk press conference video here:
https://twitter.com/AlexandruC4/status/1512423743381028871
Resource based economy and not a debt based economy. To me Russia being forced to act responsibly should be looked at by their people as positive. Must such that Apple, McDonald’s, Starbucks and the like have pulled out of the country but I would suggest for actual people not having a debt based economy where people are doing debt swaps is not all bad.
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