MOSCOW—With inflation showing clear signs of picking up, Russia’s central bank said Wednesday it will look to help companies with their foreign debts — a move it hopes will ease the pressure on the national currency.
Following on from other measures to stabilize the ruble, such as a big increase in its key interest rate to 17 percent, the Central Bank said it will offer dollar and euro loans to banks so they can help major exporters that need foreign currencies to finance operations.
That could really help as many Russian companies have been locked out of Western capital markets following the …read more
Source: The Epoch Times
