The Fatal Optimism of Russia's Central Bank

The Fatal Optimism of Russia's Central Bank

Investment manager Slava Rabinovich has become something of a celebrity on Facebook as a prophet of doom. Yesterday, as the Russian central bank raised its key rate by 1 percentage point to 10.5 percent, he accused the Russian financial authorities of "completely losing control of the situation" and acting in "powerless and senseless desperation as it has no instruments to fight the geopolitical crisis that is destroying Russia's financial and economic system."

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