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Huge Russian rate hike plays roulette with the economy

imageWill it put Russia in the black or red?Nata789 via Shutterstock

Russia’s Central Bank has raised its key interest rate from 10.5% to 17% in an emergency move that is designed to halt the ongoing collapse of the rouble, which has accelerated in recent weeks. The dramatic intervention comes after the rouble suffered its worst one-day fall since...

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