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Hoping to battle soaring inflation, Belarus will raise its main interest rate...by an astounding 200 basis points...from 14%...to 16%...on 01 June.
Minsk has also frozen prices on some staples...for 90 days.
Last week, the official exchange rate was slashed by 36% vs the usd.
Its dollar bonds sank on the news.
“The market doesn’t believe Belarus is doing the right thing, that’s clear,” an economist told BLOOMBERG. “The belligerent rhetoric coming from Lukashenko doesn’t help.”
