JRL NEWSWATCH: “Russia Inc. Isn’t Waiting for Central Bank to Brave a Rate Hike” – Bloomberg/Anna Andrianova

August 28, 2018 JRL Russia List Politics, Government, Protests, Elections

Diverse Paper Currency, Coins, Line Graph

“The cost of money is rising for Russians well ahead of any potential central bank move to lift interest rates for the first time in almost four years amid concern the U.S. may impose fresh sanctions. State-run Sberbank PJSC, which holds almost half of all Russian savings, is increasing rates for ruble accounts for the first time since 2014. It will also pay consumers more to keep dollars on deposit to stanch an outflow of funds. One of the country’s five largest mortgage lenders, Raiffeisenbank JSC, is charging more for home loans starting this month. From sausages to gasoline, inflation is on the march ….”