Tag Archives: Russia

Dramatic rate hike to take Russian economy closer to “collapse” – economists

By Andrei Skvarsky.

The Russian central bank’s raise of the key rate to 17% from 10.5% on December 16 comes as early and stark proof of a forecast last week by Philip Uglow, chief economist at Deutsche Boerse research firm MNI Indicators, who said the regulator would further tighten its monetary policy but argued this would do more harm than good to Russia’s deeply ailing economy. Continue reading