“This move symbolizes the surrender of economic growth for the sake of preserving the financial system.”

World News
16/12/2014 11:32

“This move symbolizes the surrender of economic growth for the sake of preserving the financial system.”

The Russian central bank has announced it will raise its key interest rate to 17 percent from 10.5 percent, effective today. The news has prompted the ruble’s biggest rate rise since 1998.