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Russia cuts interest rates from two-decade high as economy slows
Russia cuts interest rates from two-decade high as economy slows
Economy
by  AFP

Russia's central bank on Friday cut its key interest rate to 20 percent -- down from a two-decade high of 21 percent -- as the economy slows and officials say months of rapid price rises are coming under control. The bank had come under increasing political pressure this year to cut interest rates, which businesses said was throttling the economy and killing investment.

Germany faces two more years of recession if US trade war escalates: central bank
Germany faces two more years of recession if US trade war escalates: central bank
Economy
by  AFP

Germany could face two more years of recession if a trade war with the United States escalates sharply, the central bank said Friday, a bleak warning for Europe's struggling top economy. Trump's tariff blitz stands to hit export power Germany hard, as the United States was Germany's top trading partner in 2024, receiving huge quantities of its cars, pharmaceuticals and machinery.