Russia's central bank on Tuesday hiked interest rates by 350 points to 12% at an emergency meeting, as Moscow looks to halt a rapid depreciation of the ruble currency.

Russia’s central bank on Tuesday hiked interest rates by 350 basis points to 12% at an emergency meeting, as Moscow looks to halt a rapid depreciation of the country’s ruble currency.

The ruble slumped to near 102 to the dollar on Monday, as President Vladimir Putin’s economic advisor, Maxim Oreshkin, penned an op-ed in Russian state-owned Tass news agency that blamed the plunging currency and the acceleration of inflation on the “loose monetary policy” of the central bank.

    • Rakust
      4•1 year ago

      Three bullets to the back of the head. A tragic suicide.

      • Unaware7013
        5•1 year ago

        I still have no idea how credit managed to stuff themselves into a duffel bag, zipped it up and decided to hang out in that car trunk.