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    Russia’s central bank makes huge interest rate hike to try to prop up falling ruble

    chicagoinquirerBy Business No Comments4 Mins Read
    Two men talk to each other at the entrance of a currency exchange office in Moscow, Russia, Monday, Aug. 14, 2023. Russia’s central bank made a big interest rate hike of 3.5 percentage points on Tuesday, Aug. 15, 2023, an emergency move designed to fight inflation and strengthen the ruble after the country's currency reached its lowest value since early in the war with Ukraine. (AP Photo/Alexander Zemlianichenko)

    by Dasha Litvinova and David McHugh
    TALLINN, Estonia  — Russia’s central bank made a big interest rate hike Tuesday, an emergency move designed to fight inflation and strengthen the ruble after t...

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