Russia’s central bank has raised its key interest rate by a full percentage point to 19% to combat high inflation as government spending on the military strains the economy’s capacity to produce goods and services and drives up workers’ wages.
Surgeon general issues advisory declaring parental stress as significant public health concern– Russia's central bank raised its key interest rate by a full percentage point to 19% to combat high inflation as government spending on the military strains the economy's capacity to produce goods and services and drives up workers' wages.
One result of government outlays is inflation, which the central bank has tried to combat with higher rates that make it more expensive to borrow and spend on goods, in theory relieving pressure on prices. So far it has been fighting a losing battle, and economists say that at some point tight credit may slow growth.
The bank's policy rate is the highest since February 2022, when the central bank raised the rates to unprecedented 20% in a desperate bid to shore up the ruble in response to crippling sanctions that came after the Kremlin sent troops into Ukraine.
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