“The Central Bank’s decision to raise rates to 17 percent in the current conditions was necessary and correct. Government decisions should follow these measures in increasing trust by investors to the Russian economy,” Kudrin said on his Twitter account.
Решение ЦБ по повышению ставки до 17% в настоящих условиях вынужденное, но правильное.
— Алексей Кудрин (@Aleksei_Kudrin) 16 декабря 2014
In recent months, the Russian ruble lost almost half of its value against the US dollar and the euro. Among reasons for the sharp decline economists cite a continuing decline in oil prices, which directly affects the Russian economy. Economists also note the sanctions imposed by the West against Moscow regarding the country's alleged involvement in the Ukrainian crisis – a claim that Kremlin has repeatedly denied.
