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Russia slashes key interest rate

The Central Bank of Russia (CBR) cut its key interest rate on Friday from 9.5% to 8.0%, citing further slowdown in annual inflation and subdued consumer demand. The cut was bigger than predicted by any of the Bloomberg-surveyed economists. According to the bank’s statement, the decline in business activity has proven …

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Poland alarmed by West losing interest in Ukraine conflict

Polish Prime Minister Mateusz Morawiecki warned on Monday that growing fatigue with the Ukraine crisis among Western populations might be something Russian President Vladimir Putin is counting on. Speaking to Polska Times, the prime minister said that while the Polish population was closely following developments in Ukraine, the same isn’t true …

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US central bank needs to increase interest rates more, chair says

The Federal Reserve will have to further accelerate increasing interest rates in order to rein in inflation, which is already at 40-year highs, Fed chairman Jerome Powell told the Senate Banking Committee on Wednesday. “I think that the most recent inflation indicators, [the] various kinds, suggest to us that we …

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Fed announces largest US interest rate hike since 1990s

The US Federal Reserve has announced a 0.75% interest rate hike, the largest increase in 28 years, as the central bank’s chairman stressed the need to avoid a recession and tame runaway price inflation.  The Fed’s Open Market Committee announced the decision on Wednesday, saying it would raise short-term rates …

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Russia restores interest rate to February mark

The Central Bank of Russia (CBR) slashed its key interest rate on Friday from 11% to 9.5%. The regulator noted that inflation in the country shows signs of easing. “The external environment for the Russian economy remains challenging and significantly constrains economic activity. At the same time, inflation is slowing …

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Ukraine hikes key interest rate to 25%

Ukraine’s central bank more than doubled its benchmark interest rate on Thursday in an attempt to tackle double-digit inflation and defend the nation’s currency, the hryvnia. The rate was raised by a whopping 15 percentage points, bringing it to 25% from 10%, a statement on the regulator’s website says. The …

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Russia cuts key interest rate

The Central Bank of Russia cut the key interest rate three basis points on Thursday from 14% to 11%, as inflation in the country shows signs of subsiding, according to the regulator. The move is part of the easing of capital control measures adopted in March to protect the economy …

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Fed announces highest interest rate hike since 2000

Citing high inflation, the US Federal Reserve has raised its base interest rate by 50 basis points, or 0.5%, and announced it would be selling off some assets from its $9 trillion balance sheet. The rate hike is the highest since May 2000, when the dot-com stock bubble burst. “Inflation …

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Russia cuts interest rate

Russia’s central bank cut its key interest rate on Friday, saying that it saw room for further decrease this year, as the regulator tries to tackle soaring inflation and support the country’s shrinking economy. The Central Bank of Russia lowered the key rate to 14% from 17% as it looks …

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US central bank hikes interest rate, blames Russia

The US Federal Reserve’s Federal Open Market Committee has boosted its benchmark interest rate by 25 basis points, the first increase in over three years as the policymaking body seeks to rein in near-record inflation. The new rate will run between .25% and .5%. In addition to the rate hike …

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