Monday, December 15, 2014

Russia resorts to ‘drastic’ measure to stop ruble slide


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MOSCOW, Russia – The Russian central bank early Tuesday announced a dramatic hike of its key rate from 10.5 to 17 percent, a drastic move to stop an out-of-control ruble slide.


“This decision is aimed at limiting substantially increased ruble depreciation risks and inflation risks,” the central bank said in a statement posted on its website around 1:00 am local time (2200 GMT Monday).


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  • Tags:


  • drastic


  • economy


  • Inflation


  • key rates


  • ruble


  • Russia central bank




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