Russia hikes interest rates to 15% as inflation soars

[Synthaholic]

Can't wait for some Trumper to explain why this is Joe Biden's fault.

Russia hikes interest rates to 15% as inflation soars

The higher-than-expected rate hike of two percentage points raises borrowing costs for the fourth time in a row.

Globally the pace of price rises has been high, in part due to Russia's invasion of Ukraine. Inflation in Russia hit 6% in September.

There has also been increased government spending in Russia as it pours resources into its war machine.

The Bank of Russia, the country's central bank, has now raised rates by 7.5 percentage points since July as it seeks to get inflation back down to its 4% target.

This includes an unscheduled emergency hike in August as the rouble tumbled past 100 to the dollar and the Kremlin called for tighter monetary policy.

"Current inflationary pressures have significantly increased to a level above the Bank of Russia's expectations," it said on Friday.

 

[rightwinger]

Russia can’t sustain this invasion

Their economy is collapsing

 

[Synthaholic]

Russia can’t sustain this invasion

Their economy is collapsing

Russia inflation: 15%
USA inflation: 3.70%

But Putin is the Trumper hero and Biden is the debbil!!!

 

[luiza]

There is zero real inflation on home produced goods and Russia is totally self sufficient .
In that scenario an exchange rate is meaningless if you simply reduce or eliminate imports .

It's a bit like the stories about dear Uncle Volodya who died last week after suffering from a stroke , several cancers , dementia and a final heart attack .
Endless soppy BS .
And didn't he look well for a dead man on his visit with the Chinese?

Except that was a double . ROFL .

 

[Ringo]

The terrible, but lying on the surface, guarded secret of the post-Soviet bourgeoisie is that the bourgeoisie are the main culprits of all the bloody conflicts in the former USSR.
In order to become a stinking thieving intermediary in the withdrawal of capital to the West, they destroyed the Union of Brotherly Peoples with Leninist internationalism