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.

  • humblebun@sh.itjust.worksEnglish
    126·
    2 months ago

    No, this is a good reality check. Still we can see how the rate has dropped from 20 to 8 like nothing

    • Flying Squid@lemmy.worldMEnglish
      24·
      2 months ago

      How can we see that it did that “like nothing” from that chart? Do you think the number is just come up with arbitrarily or something? If that’s the case, why ever change the interest rate at all? Just always keep it at that magic 18% of yours.

      • humblebun@sh.itjust.worksEnglish
        124·
        2 months ago

        I was wrong about 18 being “for a long time”. Still, if it’s indeed a measure to regulate inflation, it worked previously, why wouldn’t it work this time?

          • humblebun@sh.itjust.worksEnglish
            124·
            2 months ago

            Don’t play Trump’s card here. I was wrong in one argument, thank you for pointing it out, but overall it doesn’t seem that the claim that “Russia is collapsing due to sanctions and war” has been damaged in any way

            • Flying Squid@lemmy.worldMEnglish
              23·
              2 months ago

              I think you need to go back and look at the comment chain, because you decided to respond to my link showing you that the 18% claim wasn’t true a second time with a couple of links that also showed it wasn’t true with some popcorn bucket emojis.

              So you might want to tell that you that this you thinks you’re wrong.

              • humblebun@sh.itjust.worksEnglish
                123·
                2 months ago

                You sound very emotionally invested in this conversation, so I stop it right now. If you are still interested in the answer, please read the comment in another branch.

                Please take care and don’t forget to drink water today.