The Russian central bank raises interest rates from 8.5 to 12 percent. An emergency measure that should prop up the free fall of the ruble. And according to economics professor Paul De Grauwe, this is a signal that Russia is gradually running out of breath economically. But: “If Russia moves even more towards a war economy, that is not necessarily good news.”
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Economist Paul De Grauwe on the fall of the ruble: “Russian economy is too weak to support the war in Ukraine”
