Russia Unexpectedly Raises Interest Rates to 17%

The video discusses the collapse of the Russian ruble, driven by a 17% interest rate hike by the Central Bank, oil price drops, and Western sanctions over Ukraine. The ruble's value has halved, marking the steepest decline since Russia's 1998 default. Emerging markets are also affected, with significant foreign outflows from US exchange-traded funds. The situation is compared to the 1998 financial crisis, highlighting changes in foreign reserves and exchange rate flexibility. The video concludes with a focus on market liquidation trends.

What factors contributed to the collapse of the ruble according to the text?

How has the value of the ruble changed over the past year?

What similarities are drawn between the current economic situation and the events of 1998?

What are the implications of the net foreign outflows mentioned in the text?

How have emerging markets changed since the crisis of 1998?