Russia’s central bank has raised its key interest rate by two percentage points to a record-high 21% in an effort to combat growing inflation.

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.

  • Flying SquidMEnglish
    9•6 hours 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.

    • @[email protected]English
      -5•6 hours ago

      I was wrong about 18 being “for a long time”. Still, if it’s indeed a measure to regulate inflation, it worked previously, why wouldn’t it work this time?

      • Flying SquidMEnglish
        4•6 hours ago

        You need to decide whether you’re wrong or not.

        • @[email protected]English
          -4•6 hours ago

          Don’t play Trump’s card here. I was wrong in one argument, thank you for pointing it out, but overall it doesn’t seem that the claim that “Russia is collapsing due to sanctions and war” has been damaged in any way

          • Flying SquidMEnglish
            7•6 hours ago

            I think you need to go back and look at the comment chain, because you decided to respond to my link showing you that the 18% claim wasn’t true a second time with a couple of links that also showed it wasn’t true with some popcorn bucket emojis.

            So you might want to tell that you that this you thinks you’re wrong.

            • @[email protected]English
              -2•6 hours ago

              You sound very emotionally invested in this conversation, so I stop it right now. If you are still interested in the answer, please read the comment in another branch.

              Please take care and don’t forget to drink water today.

              • Flying SquidMEnglish
                5•5 hours ago

                You not being able to decide whether or not you’re right about the 18% thing has nothing to do with my emotions and everything to do with yours.