Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

Refinancing Rate Stays

The Central Bank is unlikely to raise the refinancing rate this year, ending the era of “easy money” for carry trades, First Deputy Chairman Alexei Ulyukayev said Thursday. Carry trades let investors make money by borrowing in countries with low interest rates and investing where rates are higher.

The Central Bank left its main rate unchanged at 7.75 percent Tuesday, after policymakers said inflationary pressures, triggered by the recent drought, can’t be stemmed by monetary policy. “For international currency speculators, the epoch of making easy money is over,” Ulyukayev said. 


… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more