Russia's Central Bank hikes interest rate to 18% as inflation soars
Russia's Central Bank hikes interest rate to 18% as inflation soars
Russia’s Central Bank has raised its key lending rate to the highest level in more than two years to stem soaring inflation in an overheated economy hit by Western sanctions in response to Moscow’s military action in Ukraine.
cross-posted from: https://lemmit.online/post/3523779
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The original was posted on /r/ukrainianconflict by /u/doughtnut2022 on 2024-07-27 00:45:13+00:00.
What i find most sad about Russia is that the people have, for the most part, accepted corruption as the way of life.
Gestures wildly at every capitalist oligarchy masquerading as a "democracy"
I mean, Russia's objectively worse in 100x ways, but corruption is accepted everywhere. It's fuckin wild what rich pepper can get away with. Putin's just at the point where he doesn't have to hide it because if you complain he will have you murdered.
8+ decades of hardcore civilian oppression, declining opportunities, and constant propaganda are what has brought them there, and we aren't far behind them.
But don't worry, the economy is fine! It's never been better, just look at how much money they're spending on things!
/S, obviously.
But the GDP went up!
Like, I'm honestly wondering how long they can keep stuff like this going. Here at home people are complaining about 5 % interest rates and how it's affecting people's personal economy. I mean, we're seeing an inflation rate of almost 10 % and interest rates of almost 20% in Russia, they can't possibly keep that going for very much longer?
It's Russia. They can keep it up till people literally riot in the streets, and it had to get pretty fucking the last time that happened.
MORE!
MOAR!!
MAHHOOR!
The economic punishment will continue until
morale improvesyou retreat from Ukraine. Your morale will never recover, because you live in Russia.Just like it used to be in the 70s and 80s
Fang your cash in the bank and get rich