The Bank of Russia raises rates more than expected to try to lower inflation and boost the rouble.
  • noride@lemm.eeEnglish
    1·
    1 year ago

    It’s always so strange to me that we don’t see the same bombastic support from the tankies over news like this, surely this is another genius move which underscores the futility of Western sanctions, right? Another 5d chess move to bring Ukraine to it’s knees, or dismantle the petrodollar, surely? 🙃

  • 👍Maximum Derek👍@discuss.tchncs.deEnglish
    0·
    1 year ago

    The Bank of Russia, the country’s central bank, has now raised rates by 7.5 percentage points since July

    Holy crap, 7.5% in (basically) 1 quarter. Imagine trying to buy a house and having your loan repayment amount jumping faster than you can get paperwork filed.

    • krellor@kbin.social
      0·
      1 year ago

      So your comment made me go “lol, imagine buying a house in Russia.” Meaning my preconceptions were that most in Russia didn’t have the means to own a home.

      But then I’m like, I don’t actually know that, let’s check it out.

      According to this site home ownership in Russia is over 90%. So what you outlined is a real problem for people there, and changes some of my mental picture of Russian life.

      The more you know!

      • netwren@lemmy.worldEnglish
        0·
        1 year ago

        90% sounds really high? At least compared to the states where it seems a vast majority is renting??

        No idea the data on this, just going off my anecdotal experience.

        • Aux@lemmy.worldEnglish
          01·
          1 year ago

          Everything was owned by the state during Soviet times. Then the people got the chance to privatise their homes for pennies. Now everyone is an owner. That happened to all countries which were a part of USSR, not just Russia. Renting is a very weird concept over there. You only rent if: you travel a lot for work, you’re a poor student in a different city and your uni didn’t provide accommodation, or you’re an alcoholic who lost their home.

          Source: born and raised in USSR.

        • gravitas_deficiency@sh.itjust.worksEnglish
          01·
          1 year ago

          90% own houses, but evidently a much lower percentage also own a washing machine, judging from the souvenirs the conscripts have been bringing home