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You're economically illiterate. The reason Russia is rising interest rates is because the economy is growing faster than expected. Sort of like the Feds had to rise interest rates under Reagan when the economy started booming.

https://www.reuters.com/world/europe/russian-finance-minister-expects-2023-gdp-grow-by-25-or-more-agencies-2023-08-26/

MOSCOW, Aug 26 (Reuters) - Russia's economy is set to grow by 2.5% or more in 2023, while inflation is expected to be around 6%, Finance Minister Anton Siluanov was quoted on Saturday as saying.

The economy ministry in April revised higher its 2023 GDP forecast to growth of 1.2% from a contraction of 0.8%, although it is expected to revise this again soon. The central bank forecasts GDP growth of 1.5%-2.5% this year.

"If, last year, the economy shrank by 2.1%, then this year we expect it to recover by about 2.5%, maybe even more," state news agencies quoted Siluanov as saying in an interview with the CGTV channel.

“You’re economically illiterate. The reason Russia is rising interest rates is because the economy is growing faster than expected.”

Who is the economic illiterate now?

13% interest rates are needed to cool off hectic growth of 2.5 %? Somebody needs to tell China.

The reason Russia is rising interest rates is because the economy is growing faster than expected.

A 1.5% - 2.5% growth rate requires a 73% increase in interest rate? You are going to find yourself extremely lonely in that theory.

"We raised the rate due to the appearance of inflation risks and will keep it at high levels for quite a long time, until we are convinced of the sustainable nature of the inflation slowdown," the bank's governor, Elvira Nabiullina, told a press conference.