Vladimir Putin is in a painful economic bind
Russia’s reliance on China is becoming a problem
Most central banks are cutting interest rates. Not Russia’s. Last month policymakers raised rates to 21%, a two-decade high; markets expect them to reach 23% by the year’s end. The shift is all the more unusual as it is happening at a time of war, when central bankers are normally loth to suppress economic activity.
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This article appeared in the Finance & economics section of the print edition under the headline “The 21% war”
Finance & economics November 23rd 2024
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From the November 23rd 2024 edition
Discover stories from this section and more in the list of contents
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Trump wastes no time in reigniting trade wars
Canada and Mexico look likely to suffer
How Trump, Starmer and Macron can avoid a debt crunch
With deficits soaring, their finance ministers will have to be smart
What Scott Bessent’s appointment means for the Trump administration
The president-elect’s nominee for treasury secretary faces a gruelling job
What Donald Trump and Bernie Sanders get wrong about credit cards
Forget interest rates. Rewards are the real problem
Computers unleashed economic growth. Will artificial intelligence?
Two years after ChatGPT-3.5 arrived, progress has been slower than expected
Should investors just give up on stocks outside America?
No, but it is getting a lot harder to keep the faith
