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 Sell the motherfucker short: Russia lifts interest rates as rouble, markets tumble amid Ukraine strife

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Sell the motherfucker short: Russia lifts interest rates as rouble, markets tumble amid Ukraine strife Vide
PostSubject: Sell the motherfucker short: Russia lifts interest rates as rouble, markets tumble amid Ukraine strife   Sell the motherfucker short: Russia lifts interest rates as rouble, markets tumble amid Ukraine strife Icon_minitimeMon Mar 03, 2014 3:06 am
Russia's central bank has hiked its key lending rate to 7 per cent from 5.5 per cent, after local stocks plunged and the rouble dropped to a record low.

Sell the motherfucker short: Russia lifts interest rates as rouble, markets tumble amid Ukraine strife Ak-crimealead3-620x349

The Russian rouble fell as much as 2.3 per cent to an all-time low against the US dollar, but trimmed losses after the central bank's move and was recently trading at 36.37 per US dollar, down 1.4 per cent for the day.

The country's stock market also took a beating, with the Micex stock index plunging as much as 8 per cent in early  trade.

"The decision is directed at preventing risks to inflation and financial stability associated with the increased level of volatility in the financial markets," the central bank said in a statement, without offering any further details.

Read more: http://www.smh.com.au/business/markets/russia-lifts-interest-rates-as-rouble-markets-tumble-amid-ukraine-strife-20140303-340ah.html#ixzz2usvf3jWs
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Sell the motherfucker short: Russia lifts interest rates as rouble, markets tumble amid Ukraine strife PgkowJT
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