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Russia raises interest rates as Ukraine tensions mount

Russia raises interest rates as Ukraine tensions mount

Russia made the unexpected move to raise interest rates to 7.5%, as fears grow over the fallout from the Ukraine crisis.

Russia's central bank upped rates by 50 basis points as tensions escalate between the West and Russia over the Ukraine. It is understood that the move is motivated by growing concerns over the financial and economic fallout from the crisis.

The rate rise came in the wake of Standard & Poor’s decision to cut Russia’s credit rating to BBB-.

On Thursday US secretary of state John Kerry accused Moscow of using 'gross intimidation' to subvert the democratic process in Ukraine with the threat of additional sanctions.

On the same day Russia ordered large-scale military exercises on the Ukranian border as Kiev sought to get rid of armed pro-Russian separatists occupying buildings and checkpoints across the east of the country.

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Profile: The opportunity set that attracted Brett Williams to wealth management

Profile: The opportunity set that attracted Brett Williams to wealth management

Brett Williams is best known for helping to build some of the biggest platforms in the IFA market.He made the move over to wealth management to head SEI’s UK business earlier this year in the belief that this is where the best opportunities now lie.

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