27-July-2024
Economy News
 
Top Critics Challenge Russian Central Bank, Point to China's Rate Cuts
26-Jul-2024

The Russian central bank's independence is set to be tested as it prepares to hike interest rates on Friday amid growing pressure from opponents - including Russia's most influential corporate executive Igor Sechin - who says it should take cues from China. A Reuters poll of analysts predicts the regulator will raise the benchmark interest rate by 200 basis points to 18% to tame inflation and cool an overheated economy. That would be the highest level since April 2022, when the rate reached 20% amid market turmoil after the Kremlin sent troops into Ukraine in what it calls a "special military operation".

News Source:- https://money.usnews.com/investing/news/articles/2024-07-25/top-critics-challenge-russian-central-bank-point-to-chinas-rate-cuts