News Wire | August 15, 2023 Archive

Russia’s Central Bank Makes Huge Interest Rate Hike to Try to Prop Up Falling Ruble

By Dasha Litvinova and David McHugh | Associated Press

Russia’s central bank made a big interest rate hike Tuesday, 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.

More from WPR: Can Putin Change Russia’s Role From Spoiler to Global Power?

China Stop Reporting Youth Unemployment as Economic Pressures Mount

By Thomas Hale | Financial Times

China has said it will stop publishing data on youth unemployment, weeks after the gauge hit a record level, in a sign of mounting pressure on policymakers as new data pointed to weakness in the recovery of the world’s second-largest economy.