The Phaserl


Russia Shocks With Emergency Rate Hike, Boosts Interest Rate From 10.5% To 17%

from ZeroHedge:

Following the biggest rout to the Ruble in ages, Russia – unlike Mario Draghi – instead of talking the talk decided to walk the bazooka walk and shocked all those long the USDRUB by unleashing an emergency rate hike (at 1 am in the morning) from the recently raised interest rate of 10.50% to… hold on to your hats… 17.00%, a 650 bps increase!

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