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submitted 1 month ago by MicroWave@lemmy.world to c/world@lemmy.world

Russia’s central bank on Friday raised its key interest rate by two percentage points to a record-high 21% in an effort to stem growing inflation as massive government spending on the military amid the fighting in Ukraine strains the economy’s capacity to produce goods and services and drives up workers’ wages.

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[-] FlyingSquid@lemmy.world 24 points 1 month ago

How can we see that it did that "like nothing" from that chart? Do you think the number is just come up with arbitrarily or something? If that's the case, why ever change the interest rate at all? Just always keep it at that magic 18% of yours.

this post was submitted on 25 Oct 2024
280 points (98.3% liked)

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