The Caithness Business Index has posted the following article:

Bank Of Russia Lifts Rate To Record Of 21%

[IMG][/IMG] The Bank of Russia raised its key interest rate by 200bps to 21% in its October 2024 meeting, above market expectations of a 100bps increase, and signaled that it is likely to continue raising interest rates in its upcoming December meeting. The decision lifted the key interest rate to its highest on record, surpassing the extraordinary move that lifted the rate to 20% in response to the crash of the ruble following Russia's invasion of Ukraine in 2022. [Read Full Article]