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.

  • cygnus@lemmy.caEnglish
    43·
    13 hours ago

    Can’t wait to see the bots explain how this is actually a sign of a healthy economy that can continue this war indefinitely, and sanctions totally aren’t working bro I swear bro