Russia's central bank has failed to shore up the ruble, despite ramping up rates to 17%. Tom Mackenzie takes a look back at other examples of countries that raised rates to bolster their currencies, and the fallout from those decisions. (Source: Bloomberg)

Why currency crises are rarely solved by rate hikes

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The Railways has successfully conducted a trial run of a tower wagon on India's first cable-stayed rail bridge, the Anji Khad Bridge, in Jammu and Kashmir's Reasi district, paving the way for the start of rail services to Kashmir in January next year.
Union Railway Minister Ashwini Vaishnaw shared a video clip of the trial run on the social media platform X.
The railway ministry issued a statement, saying, "Giving wings to connectivity in Jammu and Kashmir, the trial run of a tower wagon on India's first cable-stayed rail bridge, the Anji Khad Bridge, was successfully completed for the USBRL project."
The work on the railway bridge at Anji Khad was completed last month. The completion of the bridge received praise from Prime Minister Narendra Modi.
The Udhampur-Srinagar-Baramulla Railway Link (USBRL) project is aimed at providing rail connectivity between the Kashmir Valley and the rest of the country.
The Anji Khad Bridge, featuring a single pylon with a height of 331 metres abov

With the expected commissioning of train services in phases, the Railways has completed 255 kilometres of the 272-kilometre USBRL project, leaving only a small stretch between Katra and Reasi

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Why currency crises are rarely solved by rate hikes

Russia's central bank has failed to shore up the ruble, despite ramping up rates to 17%. Tom Mackenzie takes a look back at other examples of countries that raised rates to bolster their currencies, and the fallout from those decisions. (Source: Bloomberg)

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