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World Business Report: Russia Holds Fire On Interest Rates Despite Sinking Economy

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Russia Holds Fire On Interest Rates Despite Sinking Economy

11/09/2015 GMT

BBC World Service - World Business Report, Russia Holds Fire On Interest Rates Despite Sinking Economy

Russia has resisted pressure to cut interest rates, despite fears about the economy.

Russia has resisted pressure to cut interest rates despite fears about the economy. We hear from economist Chris Weafer in Moscow and how people in Ramenskoyeh are coping.

Russia's central bank has resisted pressure to cut interest rates, despite fears about the economy. We hear from economist Chris Weafer in Moscow and how people in Ramenskoyeh are coping. 

The digital currency Bitcoin continues to survive despite a major fraud scandal in Japan. The country's authorities have now charged the former head of a collapsed Bitcoin exchange with embezzlement. Mark Karpeles, who is from France, was the head of MtGox, which closed last year after revealing the disappearance of 850,000 coins worth $480mn. At the time Mr Karpeles blamed a software glitch. We get the latest from Stan Higgins, a reporter at the digital currency news website Coindesk.

It has certainly been another busy week for the BBC's business news team, following developments like the troubles at the global mining group Glencore, the downgrading of Brazil and reflecting on the long reign of the British monarch Queen Elizabeth. We review the week with Demetri Sevastopulo, Washington Bureau Chief for the Financial Times and Charles Forelle at the Wall Street Journal in London.

(Picture: Red Square Moscow. Copyright BBC)

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