đ„ 7 of the world's 10 largest central banks are starting to cut interest rates đ
This means that most major economies are trying to stimulate growth by reducing the cost of borrowing money.
However, there is one notable exception:
Russia's Central Bank is bucking the trend. It has had to raise interest rates to a very high 19%, which still seems insufficient to deal with its economic situation.
đ Such high interest rate hikes are usually done to control inflation or protect the value of a currency, but can also slow economic growth.
