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Russia’s central bank makes huge interest rate hike to try to prop up falling ruble

Por: Portland Press Herald World August 15, 2023

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A woman drives past a currency exchange office in Moscow, Russia, on Monday. Alexander Zemlianichenko/Associated Press Russia’s central bank made a big interest rate hike of 3.5 percentage points on Tuesday, an emergency move designed to fight inflation and strengthen the ruble after the country’s currency reached its lowest value since early in the war with Ukraine. Russia’s ruble has fallen a long way in recent months, and the... + full article



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