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Bank of Russia Critics Now See Wisdom in 2014 Super Rate Raise

  • `Like everyone else, I panicked,' said OTCex strategist Haddad
  • A year later, the shock-and-awe move is viewed differently
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Inflation May Hold Challenges for Russia Central Bank

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Russia’s drastic move last December to raise its key rate to 17 percent to stop the ruble’s free fall was met with dismay by many. A year later, it’s won over admirers.

Jean-David Haddad, an emerging-markets strategist at OTCex Group brokerage in Paris, dismissed the decision at the time as a “failure.”