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Russian Central banks ups interest rate as the Rbl struggles

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    Russian Central banks ups interest rate as the Rbl struggles

    Blimey - what a day for the Russophile...

    Ever since I can remember it's always been about 50 rbls to the pound, since sept or so it's slipped but as of tonight it's 102 rbls to the pound and the Central Bank has raised interest rates in Russia to 17% (from 10.5%).

    I think Vova has bitten off more than he can chew now, he might be strong like Ox, but can he sake his New Russians' desire for Western Goods, maybe so cos twice as much to them is still nowt, but 17% - crikey, that will hit the average Ivan...

    stek
    CUK Ecommmomik reportage
    Been for a pint
    Going to bed

    Freedom for Tooting....

    #2
    To spend the way Putin wants to spend, oil needs to be around $100 a barrel. USA and other countries production is keeping it around $50. Who will blink first?
    Fiscal nomad it's legal.

    Comment


      #3
      Originally posted by stek View Post
      Blimey - what a day for the Russophile...

      Ever since I can remember it's always been about 50 rbls to the pound, since sept or so it's slipped but as of tonight it's 102 rbls to the pound and the Central Bank has raised interest rates in Russia to 17% (from 10.5%).

      I think Vova has bitten off more than he can chew now, he might be strong like Ox, but can he sake his New Russians' desire for Western Goods, maybe so cos twice as much to them is still nowt, but 17% - crikey, that will hit the average Ivan...

      stek
      CUK Ecommmomik reportage
      Been for a pint
      Going to bed

      Freedom for Tooting....
      The cost of living and prices in Russian have risen tremendously in the past 10 years. The hotel I stay in Moscow used to be $25 ten years ago, six months ago it was $150, the Ruble was way over valued. I think the Ruble is finding to the right level.
      "A people that elect corrupt politicians, imposters, thieves and traitors are not victims, but accomplices," George Orwell

      Comment


        #4
        The olichargs will soon get rid of Putin, before they lose all grip on him, it was them who installed him anyway as their puppet many years ago.

        Comment


          #5
          Originally posted by Eirikur View Post
          The olichargs will soon get rid of Putin, before they lose all grip on him, it was them who installed him anyway as their puppet many years ago.
          They may have installed him, but he has already turned on them.

          Oligarch's arrest deepens fears over Russian economy | Business | The Guardian

          Arrest of Sistema Boss Raises Specter of New Yukos Case - WSJ
          Fiscal nomad it's legal.

          Comment


            #6
            Went to Moscow on a business trip back in Soviet days and was annoyed that they often gave out sweets instead of change. If it was now I would probably think that was good deal.
            bloggoth

            If everything isn't black and white, I say, 'Why the hell not?'
            John Wayne (My guru, not to be confused with my beloved prophet Jeremy Clarkson)

            Comment


              #7
              Tricky times these. Vlad might strike out to divert attention from his domestic woes.

              If he did a full invasion of Ukraine, would the west intervene? Heck he might even test NATO's resolve to defend the Baltic states by invading Latvia or Estonia, under the guise of defending ethnic Russians from persecution. All a bit far fetched I know, but so was the thought of WW1 right until it actually started.

              Comment


                #8
                Originally posted by sirja View Post
                Tricky times these. Vlad might strike out to divert attention from his domestic woes.

                If he did a full invasion of Ukraine, would the west intervene? Heck he might even test NATO's resolve to defend the Baltic states by invading Latvia or Estonia, under the guise of defending ethnic Russians from persecution. All a bit far fetched I know, but so was the thought of WW1 right until it actually started.
                Russia could not afford to wage a large scale conventional weapons war. If it was determined to cause trouble it would use its nuclear weapons.

                I will be digging out my cellar over the weekend
                Let us not forget EU open doors immigration benefits IT contractors more than anyone

                Comment


                  #9
                  Originally posted by stek View Post
                  stek
                  CUK Ecommmomik reportage
                  Been for a pint
                  Going to bed

                  Freedom for Tooting....
                  Stuff Tooting. Can't get a decent pint there.

                  How about Pudsey?

                  I had some decent pints thereabouts, though I fear that Tetley's isn't what it used to be.

                  Edit:

                  Ooer. The "Official Site" for Tetley's according to DuckDuckGo gives:

                  404 NOT FOUND
                  which is quite disconcerting
                  Last edited by Sysman; 16 December 2014, 11:38.
                  Behold the warranty -- the bold print giveth and the fine print taketh away.

                  Comment


                    #10
                    "But Alex Salmond told us all that oil would never be lower than $113."

                    Comment

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