Russian Central Bank hikes interest rates overnight to 17%

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In what is clearly being seen as crisis management, the Russian Central Bank hiked interest rates from 10.5% to 17% late night to stem the continued weakening of the Ruble against the US Dollar. The massive hike in interest rate, which was reportedly around 1AM in the night, goes to show how the Russian economy has been hit, not just by the US and EU led sanctions but also the falling Crude Oil pr...

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