With the third-largest interest rate increase in a decade to shore up the ruble, Moscow’s policymakers are pursuing the conflicting goals of paying for the war against Ukraine and taming inflation.
Tag: Banking and Financial Institutions
Russian Ruble Slides Past 100 Against the Dollar, Its Weakest Level Since March 2022
The currency weakened as far as 102 to the dollar, adding to concerns of inflation and prompting the Russian Central Bank to move quickly to consider raising rates.
Russia Tries to Bolster Ruble as Inflation Adds to Economic Woes
The central bank in Moscow took steps to counter the currency’s slide, but the war and resulting sanctions have put intense pressure on the economy.
The ruble’s fall is raising concerns inside Russia about rising inflation.
The Russian currency has lost about a quarter of its value against the dollar this year, a reflection of the country’s roiling economy.
Russia’s Wartime Spending Raises Fears of an Economic Bubble
The economic strength has helped to maintain popular support for Vladimir Putin’s war, but some have warned the state-led spending is threatening the country’s financial stability.
Europe Vowed to Make Russia Pay for the War. It’s Not That Easy.
Confiscating Russian state assets frozen by the United States and Europe could breach international law and set a dangerous precedent, experts say.
Lebanese Depositors Have Resorted to Force to Withdraw Their Savings
Amid severe limits on withdrawals and a yearslong financial crisis, Lebanese depositors are resorting to force to demand their own money, earning the moniker “the world’s most honorable bank robbers.”
NatWest C.E.O. Resigns Amid Nigel Farage’s Feud With Coutts Bank
Nigel Farage, a political insurgent and ally of Donald J. Trump, exposed his bank for dropping him over “reputational risks.” Some analysts say he could parlay his situation into a comeback.
Global Economy Shows Signs of Resilience Despite Lingering Threats
The International Monetary Fund upgraded its global growth forecast for 2023.
Russia Raises Interest Rates, Trying to Cool Wartime Economy
With the ruble weakening and the government spending ever more money on the war in Ukraine, Moscow took unexpectedly sharp action to curb inflation.