Russia's Central Bank hikes interest rate as inflation soars
apnews.com
Russia’s Central Bank has raised its key lending rate to the highest level in more than two years to stem soaring inflation in an overheated economy hit by Western sanctions in response to Moscow’s military action in Ukraine.
  • @skeezix
    50•2 months ago

    What i find most sad about Russia is that the people have, for the most part, accepted corruption as the way of life.

    • @WhatAmLemmyEnglish
      18•2 months ago

      Gestures wildly at every capitalist oligarchy masquerading as a “democracy”

      I mean, Russia’s objectively worse in 100x ways, but corruption is accepted everywhere. It’s fuckin wild what rich pepper can get away with. Putin’s just at the point where he doesn’t have to hide it because if you complain he will have you murdered.

    • Angry_Autist (he/him)
      3•2 months ago

      8+ decades of hardcore civilian oppression, declining opportunities, and constant propaganda are what has brought them there, and we aren’t far behind them.

  • Tar_Alcaran
    38•2 months ago

    But don’t worry, the economy is fine! It’s never been better, just look at how much money they’re spending on things!

    /S, obviously.

    • @thebestaquaman
      1•2 months ago

      Like, I’m honestly wondering how long they can keep stuff like this going. Here at home people are complaining about 5 % interest rates and how it’s affecting people’s personal economy. I mean, we’re seeing an inflation rate of almost 10 % and interest rates of almost 20% in Russia, they can’t possibly keep that going for very much longer?

      • Tar_Alcaran
        2•2 months ago

        It’s Russia. They can keep it up till people literally riot in the streets, and it had to get pretty fucking the last time that happened.

  • @[email protected]English
    11•2 months ago

    The economic punishment will continue until morale improves you retreat from Ukraine. Your morale will never recover, because you live in Russia.