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.

  • humanspiral@lemmy.caEnglish
    65·
    2 months ago

    Russians have food and vodka. It is likely the most self sufficient industrial/war nation on earth.