The Russian Ruble is in steep decline, losing another 3% just in a matter of hours. I guess that the Russian base interest rate will be increased soon above the current and high 21%, in order to slow down this development.
Russia's stagflation (recession plus inflation) has begun and the fast dropping value of the Russian currency is only but a taste of what's about to come.
@Tendar
I think Chemezov (CEO of Rostec, a state military insustrial company, and personal friend of putin) won over Nabiullina (head of the central bank)
This is a way of devaluing salaries and pensions, hinder civilian imports, help oil exports, and then keep russian companies afloat.
If this is the case, I even doubt that the central bank will increase the interest rates despite the inevitable rising inflation.
Sink another couple of yachts, seize more oligarch assets, ban Russian gas and oil FOREVER. NEVER, EVER, buy Russian products again.
Tendar
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