things are going so well for russia economically .......
this woman is likely the smartest person in russia and has done her work well .....tried to resign at the beginning of the war but putin disallowed that .......presently official interest rates in russia are 16% and expected raised to 18% .Russia's central bank chief said Thursday that inflation was running ahead of expectations and hinted the bank was likely to hike interest rates later this month.
Prices have risen fast in Russia since it launched its full-scale invasion of Ukraine in February 2022. Since then, the Kremlin has massively ramped up spending on its army and arms producers.
The surge in public expenditure, combined with record labor shortages in many sectors, has created an inflationary spiral that has gripped the country over the last year.
"In July the discussion of a rate hike will be on the agenda," Governor Elvira Nabiullina told reporters in a televised news conference Thursday.
"I think the main subject of discussion will be the step of the rate hike," she added,
But huge funding measures for the war in Ukraine have flooded the economy with cash, boosting growth but also fuelling inflation.
Nabiullina also said Thursday that Russia was experiencing more problems with international payments, which the United States has targeted in its latest sanctions packages.
"The situation with cross-border payments has become more complicated recently," Nabiullina said.
This too, was an inflationary factor, she said, as it drove up transaction costs for importers.
https://www.themoscowtimes.com/2024/07/04/russias-central-bank-chief-signals-interest-rate-hike-a85613
