Russia raised its main interest rate the most since 1998 as the currency plunged to a record and investors pulled money from the stock market on concern that President Vladimir Putin will invade Ukraine.
The one-week auction rate, the benchmark introduced in September, was increased temporarily to 7 percent from 5.5 percent, the Bank Rossii said on its website today. The regulator also temporarily raised its other major lending rates by 150 basis points, or 1.5 percentage points.
Pro-Russia forces controlling Ukraine’s Crimea region have attacked border posts, while fighter jets violated airspace and more war ships have arrived at Russia’s base on the Black Sea peninsula, Ukrainian authorities said today. U.S. and European leaders threatened sanctions against Russia, raising the risk that economic growth will stall, demand for assets will dry up and a selloff in the currency will deepen.
Men often oppose a thing merely because they have had no agency in planning it, or because it may have been planned by those whom they dislike.
-Alexander Hamilton
this will pass, noone will lose money or lives over ukranians and europe needs russian gas more than they need another basket case member of the union.
noddy wrote:this will pass, noone will lose money or lives over ukranians and europe needs russian gas more than they need another basket case member of the union.
I guess that depends on whether you are one of the people who loses your shirt in the interim. The Russian oligarchs are heavily invested overseas. If their money starts being seized faster than financiers of Al Qaeda, then that's a big deal.
Men often oppose a thing merely because they have had no agency in planning it, or because it may have been planned by those whom they dislike.
-Alexander Hamilton
noddy wrote:this will pass, noone will lose money or lives over ukranians and europe needs russian gas more than they need another basket case member of the union.
I guess that depends on whether you are one of the people who loses your shirt in the interim. The Russian oligarchs are heavily invested overseas. If their money starts being seized faster than financiers of Al Qaeda, then that's a big deal.
didnt say their wouldnt be suffering or ghastly things happening, just that the markets and the political situation will probably ride this one out - russian oligarchs are fair game from all sides aswell.
