I guess we shouldn't complain about the Fed missing the inflation signs and our .25 .50 .75 incremental hikes vs Russia's 3.5 hike.
Quote:
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Responding to a rapidly deteriorating ruble, the Bank of Russia hiked its key interest rate on Tuesday by 3.5 percentage points to 12%.
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Some policy wonks are saying this does not mean Russia is going off the cliff anytime soon. But does seem to be a huge surprise which is typically needed to address some sort of big immediate crisis.
Maybe all the sanctions are beginning to really bite.