Russia raises key interest rate to 17% amid rouble decline
 

The Russian central bank has announced it is hiking its key interest rate to 17% from 10.5%.

The bank said the move was to try to ease the rouble's recent descent in value.

The Russian rouble has dropped to a new low against the US dollar, as falling oil prices and Western sanctions continue to weigh on the country's economy.

Continued BBC News - Russia raises key interest rate to 17% amid rouble decline

Goodbye Russia :1orglaugh

Sanctions can work better than any bomb...it just doesn't satisfy people's need for instant results.

Where are all the shirtless Putin pictures now..

17%? They are either wildly over-reacting, or they are in worse trouble than I thought. Wow.





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Russia its going down.

Now lil putin should handle it in his tiny ass

The average russian must really be feeling this. Lets say they have a mortgage in rubels, and are paying off a flat whilst working for rubles locally. Their credit % just went from maybe 5% to 20% over the course of a couple of months - and I doubt their salary increased that much.

That being said, i'm sure the russians here on gfy who make money in dollars and euros are popping open champaign - I know I would be if PLN took a crash like that.

:1orglaugh:1orglaugh

Wherever Russia goes, Germany will follow.

Why is that?

USD/RUB +20 % !!! - 75 to 1

crazy.......

I must be missing something - Please explain...

Which one? I thought oil prices does not depend on sanctions? :upsidedow

The secret of Putin's success was an extremely high price on oil during very long period. Now everybody could see he is not a genius. He's nothing.

P.S. Was telling it ya for years.

yes, be happy and welcome your new government installed by US and Wall street ;-)

I strongly believe that our current one was installed by the US and Israel. Don't forget that Putin was set to power by Berezovsky...

BTW, I'm used to spend about 7000 rub in a restaurant which was about $200 for two persons (me and my wife). Now it will be less than $100. A litter of gasoline was was about $1. Now it's only 40-50 cents. What a wonderful world :thumbsup

Do all Russians not give a fuck about their country or just you?

Pathetic seeing you gloat while the majority are really being hurt by this.

Then again, you have always been a real asshole.

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EURRUB=X: Summary for EUR/RUB- Yahoo! Finance
This is like watching bitcoin charts. It almost hit 99RUB / 1EUR

Geography.

In all fairness, if your savings (assuming he keeps in USD or EURO) and buying power suddenly doubled - would you be unhappy?

You two should get married to each other. Would make a lovely idiot couple.

Your feigned indignation speaks greater volumes than you know.

How one handles good fortune that arises because others are facing hardship tells everything you need to know about someone's character.

Gloating because your country's fellow citizens just took a standard of living hit says everything you need to know about him.


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You just an idiot, do you know that? I was always for a strong Russia. I saw that Putin is doing to my country. He simple destroys it, destroys our economics, destroys our laws, destroys our freedoms...

84% (or how many morons were supporting him?) of others didn't understand that. They consider me as a foe when I told them that we need another government. Not I'm not incited them for a revolution or some illegal actions, of course. I have simple tried to explain who they must vote for and why they must never support Putin, never vote for him and his corrupted party. In best cases they eyed at me as at idiot who is so stupid to understand the greatness of Putin.

Those 84% of sheep were in need for a some serious shake up to open their eyes. Now they've just got it. If they continue supporting Putin, the situation will get worse with every year.

So once again, go fuck your self, you clueless clown :321GFY

Now new cold war on doors

So continue to lash out at your government, that's natural, I do it. But don't gloat about your good fortune which is tied exactly to their misfortune and harder lives.

Dick.


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It's not a misfortune for them. It's their chance to open the eyes. This is a GOOD chance for them and for a whole my country.

Fuck off, clown.

:1orglaugh:1orglaugh

You're too much.

Since I'm in Texas today I think steak & eggs sounds like a perfect breakfast. Nice chatting with you again, don't meet solid citizens like you everyday.


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Watch the level of your cholesterol.

In no way did I imply indignation. What do I have to be indignant about? I am simply surprised.

I'm not sure what to infer from what you are saying either, although the air of darkness and malevolence is certainly intriguing! :1orglaugh






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Hope they do not decide to pull it out by starting ww3. A common solution in the past. :Oh crap

Sorry, it's not a clavinet, but will this suffice?




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It's in the short run only, then prices get up real fast.

http://i.imgur.com/eMlBPcq.jpg

Are you sure?...

What he doesn't see in Moscow is how the other side of the country is affected. Cities like Vladivostok, Nakhodka and other areas in the Far East where almost all stuff including food is largely imported from Korea, China and Japan (90% of all cars are used Japanese cars) and so on. Now they are fucked... they can't sell something for Rubles and pay in $ because Rubles are in a free fall. Foreign companies can no longer give them credit terms because you can't give someone 100k in Electronics or appliances, expect them to sell in Rubles and then convert those Rubles to $ for repayment. By the time that product gets from Korea to Vladivostok, Rubles could have dropped another 30%. Since salaries didn't rise 30%, products get more expensive and do not sell anyway. So they get truly fucked. Tons of people went out of business over night that were relying on imports when the Ruble crashed in 98 (was devalued by the government).... I watched the whole Russian Far East completely grind to a halt then as well and know exactly how this plays out in most of these regions. It's not pretty for anyone.

The only people that thrive are those exporting natural resources (fish, coal, timber, metals etc) as they collect payments in Dollars/Euros but still pay all domestic expenses in Rubles where production and every related cost is getting cheaper and cheaper for them. But the common people suffer a lot because prices on everything are going sideways more and more by the day, but their salaries will remain mostly unchanged or lag far behind price increases. Or.... common people have a great deal of "opportunity" as CyberSEO says,.. presumably an improved opportunity to suffer.

Fucked? You wish :1orglaugh Read something about 1998 crisis. That time dollar jumped from 6 rubles to 36 (yes in 6 times almost immediately). Sure that wasn't a cool thing for many, but the heavens did not fall. The same will be again. China (as well as other countries) still buys Russian gas and oil for dollars, so "fucked" is not a suitable word in such a situation.

Don't argue with Lawrence Connor. He never makes sense. :)