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<ul class="summary-list"><li><keyword id="11894337" type="UNKNOWN" weightage="60" keywordseo="russia" source="Orion">Russia</keyword>'s central bank is cutting interest rates for the second time in a month, this time to 14% from 17%.</li><li>The bank cited a stabilizing ruble, which has rebounded from its losses since the war in <keyword id="11985141" type="UNKNOWN" weightage="60" keywordseo="ukraine" source="Orion">Ukraine</keyword> began.</li></ul>The Central Bank of Russia cut interest rates on Friday for the second time in April as the ruble continues to recover, but warned the economy will crash this year.The lastest cut brought rates to 14% from 17%, following an April 8 reduction from 20%. After Russia launched its war on Ukraine in February, the CBR raised raised interest rates to 20% from 9.5% in an emergency effort to aid the plunging ruble.On Friday, the CBR noted that the ruble has rebounded strongly to pre-war levels. Russia has propped up the currency through stringent capital controls that have made the ruble <a href="https://www.npr.org/sections/money/2022/04/05/1090920442/how-russia-rescued-the-ruble">one of the top performing currencies ac cross the globe.</a>The ruble was down 2% on Friday, but at 72 rubles equaling one US dollar the exchange rate still tops the rate of 80 to the dollar just before the invasion of Ukraine. At its low in early March, the ruble had traded at 120 to the dollar.As the currency regains its footing, the Kremlin is hoping to shift its attention back toward the economy to absorb the blow of Western sanctions.The CBR estimated the Russian economy will shrink by 8% to 10% this year and noted it's preparing for potentially worsening restrictions from global powers as the war in Ukraine rages on."The decline in the potential of Russia's economy driven by restrictions may turn out to be more pronounced than the baseline scenario assumes," the CBR said in a statement. Meanwhile, <keyword id="11894140" type="UNKNOWN" weightage="60" keywordseo="inflation" source="Orion">inflation</keyword> is running rampant and reached 17.6% in April. The CBR officials expect inflation to run at a <a href="https://news.yahoo.com/bank-russia-cuts-rates-more-105008299.html">18% to 23% clip before stabilizing between 5% and 7% in 2023.</a>

Russia cuts interest rate again as ruble rebounds but warns economy will crash amid sanctions and soaring inflation

<ul class="summary-list"><li> <keyword id="11894337" type="UNKNOWN" weightage="60" keywordseo="russia" source="Orion">Russia</keyword> will force the occupied city of Kherson to use <keyword id="13458305" type="UNKNOWN" weightage="60" keywordseo="rubles" source="Orion">Rubles</keyword>, according to state media. </li><li>The Kremlin says the hryvnia, <keyword id="11985141" type="UNKNOWN" weightage="60" keywordseo="ukraine" source="Orion">Ukraine</keyword>'s <keyword id="12055585" type="UNKNOWN" weightage="60" keywordseo="currency" source="Orion">currency</keyword>, will continue to circulate for four months.</li></ul>Russia will transition the occupied city of Kherson to rubles for payments on May 1, a state media report said Thursday.The transition is expected to take up to four months during which time the hyrvnia, Ukraine's currency, will continue to circulate. Russia has complete control of Kherson, and has installed a pro-Russian administration and mayor, <a href="https://www.republicworld.com/world-news/russia-ukraine-crisis/kherson-to-move-to-ruble-payments-from-may-1-transition-to-take-4-months-for-completion-articleshow.html">reports say</a>. Russia began its invasion of Ukraine on Feb. 24.The <keyword id="13245856" type="UNKNOWN" weightage="60" keywordseo="ruble" source="Orion">ruble</keyword> in the earliest days of the invasion cratered, and was <a href="https://markets.businessinsider.com/news/currencies/russian-ruble-worth-less-than-1-cent-ukraine-bombs-sanctions-2022-3">worth less than one penny</a> before it staged a rebound back to pre-invasion levels. The Kremlin has made moves to prop up its currency, including making demands that customers for its oil and gas supplies pay in rubles. Kherson was the first major land victory for President Vladimir Putin's forces. Russian forces gained full control of the Kherson region on <a href="https://www.usnews.com/news/world/articles/2022-04-27/russian-forces-disperse-pro-ukraine-rally-tighten-control-in-occupied-kherson#:~:text=On%20Tuesday%2C%20Russia%20said%20it,separatist%20areas%20in%20the%20east.">Tuesday</a>, annexing a strategically beneficial piece of land that connects Crimea with Russian separatists in the east.

The Kremlin orders a Russian-occupied city in Ukraine to start using rubles, state media says

<ul class="summary-list"><li><keyword id="11985141" type="UNKNOWN" weightage="60" keywordseo="ukraine" source="Orion">Ukraine</keyword>'s central bank said Friday it would ban <keyword id="11893902" type="UNKNOWN" weightage="60" keywordseo="bitcoin" source="Orion">bitcoin</keyword> purchases made with the hyrvnia.</li><li>Citizens can still make purchases with foreign currencies with a monthly limit of $3,300.</li></ul>Ukraine announced limits on bitcoin purchases Friday to protect against capital flight as <keyword id="11894337" type="UNKNOWN" weightage="60" keywordseo="russia" source="Orion">Russia</keyword>'s war on the country pushes into a third month.The National Bank of Ukraine is banning bitcoin purchases made with the hyrvnia and is capping purchases made with foreign currencies at $3,300 a month, <a href="https://cointelegraph.com/news/ukraine-bans-bitcoin-purchases-with-local-currency-amid-martial-law">Cointelegraph first reported</a>.The central bank said such measures are necessary to prevent capital outflows and to reduce pressure on Ukraine's foreign-currency reserves. The NBU also labeled bitcoin purchases as "quasi cash transactions." The NBU isn't the first institution in Ukraine to move to ban bitcoin purchases. PirvatBank, the country's premier commercial bank in the country, stopped its customers from purchasing bitcoin with hyrvnia in March. The move comes as Russia's war on Ukraine has ravaged its economy. Earlier this month, the World Bank estimated that Ukraine's GDP is expected to collapse by 45% this year.Meanwhile, Ukraine's new crypto limits follow its prior embrace of cryptocurrencies since the Russia invasion, which sparked an influx of donations through digital tokens. Ukraine has raised millions through cryptocurrency donations that have supported its war effort, raking in nearly <a href="https://apnews.com/article/russia-ukraine-cryptocurrency-technology-business-bitcoin-812902c5dd1474692be3d8d040ba7bda">$67 million of a $200 million goal set in March.</a>

Ukraine's central bank is banning bitcoin purchases made with the hyrvnia to prevent capital from fleeing the war-ravaged country

<ul class="summary-list"><li>Russian commanders have received orders to invade <keyword id="11985141" type="UNKNOWN" weightage="60" keywordseo="ukraine" source="Orion">Ukraine</keyword>, according to US intelligence reported by <a href="https://yourbrooklynguide.com/best-bars-in-greenpoint/">CBS News</a>.</li><li>Secretary of State Antony Blinken said Sunday he believed <keyword id="11894337" type="UNKNOWN" weightage="100" keywordseo="russia" source="Orion">Russia</keyword> was "moving forward" on an attack.</li></ul>Russian commanders have received orders to push forward on an invasion of Ukraine, according to US intelligence <a href="https://www.cbsnews.com/news/russia-ukraine-invasion-us-intelligence-orders/">reported by CBS News</a> on Sunday. CBS News national security correspondent David Martin on Sunday reported Russian commanders were "doing everything that American commanders would do once they got the order to proceed," according to US intelligence. US Secretary of State Antony Blinken on Sunday said US intelligence believes Russian President Vladimir Putin plans to attack Ukraine."Everything we're seeing tells us that the decision we believe President Putin has made to invade is moving forward," Blinken said during an appearance on CBS News' "Face the Nation.""We've seen that with provocations created by the Russians or separatist forces over the weekend, false flag operations, now the news just this morning that the 'exercises' Russia was engaged in in Belarus with 30,000 Russian forces that was supposed to end this weekend will now continue because of tensions in eastern Ukraine, tensions created by Russia and the separatist forces it backs there," he added.Deputy Russian Ambassador to the U.N. Dmitry Polyanskiy <a href="https://thehill.com/policy/international/russia/595079-russian-diplomat-we-dont-trust-the-us-and-british-intelligence?rl=1">said on Sunday said Russia has no plan to invade</a> Ukraine, noting that Moscow has no trust in foreign intelligence."We don't trust the U.S. and British intelligence, they let us down, the whole world, on many occasions. Enough to remember the weapons of mass destruction in Iraq," he said.President <keyword id="99719" type="UNKNOWN" weightage="60" keywordseo="joe-biden" source="Orion">Joe Biden</keyword> on Friday said <a href="https://www.businessinsider.com/biden-convinced-of-russia-invasion-into-kyiv-in-coming-days-2022-2">he was "convinced" that Putin had made the decision to invade Ukraine</a>, telling reporters: "As of this moment, I'm convinced he's made the decision. We have reason to believe that." Biden said US intelligence showed an attack was likely in the coming days and said that Russian forces planned to attack Ukraine's capital city of Kyiv. "We're calling out Russia's plans loudly, repeatedly, not because we want a conflict, but because we're doing everything in our power to remove any reason that Russia may give to justify invading Ukraine and prevent them from moving," Biden said.The US has threatened sanctions should Russia plan to push forward on an attack. Ukrainian President Volodymyr Zelensky on Sunday called for preemptive sanctions against Russia, but Blinken defended the US' decision to wait."The purpose of the sanctions in the first instance is to try to deter Russia from going to war. As soon as you trigger them, that deterrent is gone," Blinken <a href="https://www.cnn.com/2022/02/20/politics/blinken-ukraine-russia-cnntv/index.html">said during an appearance on CNN's "State of the Union."</a> "And until the last minute, as long as we can try to bring a deterrent effect to this, we're going to try to do that." According to CNN, the Ukrainian defense ministry on Saturday reported more than 100 ceasefire violations in eastern Ukraine. Blinken on Sunday told CNN that Biden was willing to talk to Putin at "any time" to push forward on diplomatic solutions to avoid an invasion.

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Russia cuts interest rate again as ruble rebounds but warns economy will crash amid sanctions and soaring inflation

Brian Evans

The Kremlin orders a Russian-occupied city in Ukraine to start using rubles, state media says

Brian Evans

Ukraine's central bank is banning bitcoin purchases made with the hyrvnia to prevent capital from fleeing the war-ravaged country

Brian Evans

Russian commanders have reportedly received orders to proceed with Ukraine invasion, according to US intelligence

Connor Perrett

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