Russia's central bank shuts country's stock market for 2nd day as analysts warn it is 'uninvestable' | BISouthAfrica UkraineInvasion
, a crucial global payments messaging network. They've also pledged to try to stop the central bank from using its more than $600 billion stockpile of reserves to get around sanctions.
Gustavo Medeiros, head of research at Ashmore, said in a note to clients:"The aggressive Russian actions raise the risk of this market becoming uninvestable, due to sanctions or governance/moral reasons, for foreign investors from Western countries." The Bank of Russia on Monday more than doubled interest rates to 20% to try to halt the dramatic plunge to record lows in theThe moves came after the country's stock market suffered a devastating plunge ofYet the central bank could do little to stop a raft of institutions and companies severing ties with Russia, which could ramp up the stress on the country's economic system.
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