Rubel now appears to be in a death spiral and the end is still not in sight--if a 2% rate reduction caused this much damage.

Russian economy is in deep trouble if a drop of interest rate from a whopping 17% to still extreme 15% makes the Rouble sink like a stone.

Russian central bank cuts interest rates, trying to walk back the body blow it dealt to Russia's economy in December. http://www.wsj.com/articles/bank-of-...tes-1422614890 …

Agence France-Presse ✔ @AFP
#BREAKING Ruble accelerates fall after central bank makes surprise interest rate cut

FT calls cut in interest rates 'a dangerous move by the CBR' - http://www.ft.com/fastft/270382 Result: sharp fall in rouble: http://www.bbc.co.uk/news/business/m...8/intraday.stm …