Battling Inflation, Russia Raises Key Interest Rate to 18 Percent
Russia’s central bank raised its key interest rate to 18 percent on Friday, the highest level in more than two years, in a sign of mounting concern in Moscow that the country’s wartime economy risked producing runaway inflation.
Elvira Nabiullina, the Russian central bank’s chairwoman, said the bank raised the rate by two full percentage points because “overheating in the economy has remained considerable.”
“Labor force and production-capacity reserves have been almost exhausted,” Ms. Nabiullina said.
A further cause for stubborn inflation, she added, were “risks related to external conditions,” saying that Russian companies were passing on the burden of sanctions to consumers in the form of price increases.
https://www.nytimes.com/2024/07/26/world...-rate.html
Russia’s central bank raised its key interest rate to 18 percent on Friday, the highest level in more than two years, in a sign of mounting concern in Moscow that the country’s wartime economy risked producing runaway inflation.
Elvira Nabiullina, the Russian central bank’s chairwoman, said the bank raised the rate by two full percentage points because “overheating in the economy has remained considerable.”
“Labor force and production-capacity reserves have been almost exhausted,” Ms. Nabiullina said.
A further cause for stubborn inflation, she added, were “risks related to external conditions,” saying that Russian companies were passing on the burden of sanctions to consumers in the form of price increases.
https://www.nytimes.com/2024/07/26/world...-rate.html
teachings of the Bible are so muddled and self-contradictory that it was possible for Christians to happily burn heretics alive for five long centuries. It was even possible for the most venerated patriarchs of the Church, like St. Augustine and St. Thomas Aquinas, to conclude that heretics should be tortured (Augustine) or killed outright (Aquinas). Martin Luther and John Calvin advocated the wholesale murder of heretics, apostates, Jews, and witches. - Sam Harris, "Letter To A Christian Nation"