Free Republic

Russia's Central Bank on Friday raised its key interest rate to 16%, the fifth hike since summer as it fights to keep accelerating inflation down and a move widely anticipated by analysts. "Current inflationary pressures remain high," the Central Bank said in a statement explaining the rate hike, adding that "annual inflation for 2023 is expected to be close to the upper bound of the 7.0–7.5 percent forecast range." This is a developing story.

Vladimir Putin's annual end-of-year press conference was thrown into disarray after messages embarassing the Russian President appeared on screen. The 71-year-old was told to "quit" in multiple messages which apearred on giant screens behind him, while he was also accused of not living the same "reality" as the rest of the country. And in another bizarre turn during the event, an AI video of Putin even asked the President whether he used body-doubles to go about his duties. In total about two million questions were submitted for answering, according to state media. The annual press conference gives Russian journalist and...

Some Moscow residents claim egg prices have doubled, as Russia continues to battle persistent inflation and Western sanctions. Surging egg prices, against a backdrop of high inflation and economic sanctions, are worrying the Russian authorities, especially as eggs are a symbolic and central ingredient of the festive season. -snip- In November, the average price of eggs in Russia rose by 40.29% year-on-year, according to the Russian Federal State Statistics Service (Rosstat). Muscovite consumers report even steeper rises. "Before, I used to buy eggs for 70 roubles a dozen. Now they cost between 130 and 140 roubles - twice as much,"...