Quote Originally Posted by Serge_spb View Post
Why Russia Is Destroying Its Own Economy

Jacob Davidson

When the United States was facing recession, our Federal Reserve lowered interest rates to near-zero levels—and has kept them there. That stimulated the economy by making spending and investing more attractive (credit was cheap) and turning saving into a losing proposition (on top of low interest payments, money in the bank could potentially be eaten away by inflation).

But Russia has apparently adopted the opposite strategy. Instead of lowering rates to spur investment, the nation’s central bank has raised its key rate to a whopping 17%.
Another bright and shiny example of "the expert" with his "expert opinion"
When the US was facing the recession dollar almost started deflating thus the low interest rates to stimulate economy.
Russian ruble has quite a spin of inflation thus the high interest rate.
Although "the expert" suddenly forgot to mention that.