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Russia Raises Interest Rates, Trying to Cool Wartime Economy

Moscow took sharp action on Friday to curb inflation, fearing the effects of ever higher spending on the war in Ukraine and of a weakening Russian ruble.

Russia’s central bank took the unexpected step of raising its benchmark interest rate by a full percentage point, to 8.5 percent from 7.5 percent. It was the first large hike in more than a year, and the bank warned that further increases were likely.

“It is a surprise and on its face reflects more concern at the central bank about…

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About bourbiza

Bourbiza Mohamed is an award-winning travel journalist who has been writing about her adventures around the world for over a decade. With a passion for exploring new cultures and experiencing different ways of life, Bourbiza Mohamed has traveled to over 107 countries across six continents and has documented her journeys in numerous publications. Bourbiza Mohamed writing is known for its vivid descriptions and personal anecdotes, which transport readers to the destinations she writes about. Her articles cover a wide range of topics, from off-the-beaten-path adventures to luxury travel experiences, and she has a particular interest in sustainable tourism and responsible travel. In addition to her writing, Bourbiza Mohamed is also an accomplished photographer, capturing stunning images of the people, landscapes, and wildlife she encounters on her travels. Her photos have been featured in publications such as National Geographic, Lonely Planet, and Conde Nast Traveler.

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