In an already tense global context, Russia has just made a strong move with an announcement that is sure to provoke reactions. This Friday, the Russian Central Bank raised its key interest rate to 21%, a historic level not seen since 2003. Behind this drastic decision lies an attempt to counter significant inflation, fueled by unprecedented military spending and a rapidly changing economy due to international sanctions. For Moscow, it is a fight against the inflationary spiral, while Russian companies and the market fear the repercussions of this monetary policy.
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