Russia Raises Key Interest Rate to 17%

The video discusses recent rate hikes by the Russian Central Bank, highlighting a significant increase from 10.5% to 17%. It explores the ruble's depreciation, drawing historical parallels to 1998. The surprise midnight meeting of the Central Bank is analyzed, with emphasis on the impact of oil prices and geopolitical factors. The video examines the pressure on the Russian economy and leadership, considering the effects of Western sanctions and the potential for a deep recession. The Central Bank's decision to prioritize banking stability over economic growth is also discussed.

How did the speaker describe the current economic situation in Russia compared to 1998?

What historical event does the speaker reference to highlight the risks of a banking crisis?

What was the central bank's strategy to avoid a run on the banks?