Posted on 12/05/2024 3:56:46 AM PST by marcusmaximus
Vladimir Putin is facing an economic crisis on multiple fronts as the rouble collapses and inflation soars.
The head of the Russian Central Bank, Elvira Nabiullina, looks set to compound Moscow's economic misery further as she warns that inflation is continuing to rise.
She warned on Wednesday that interest rates may have to be hiked further but added that the decision is “not predetermined.”
Ms Nabiullina said: “We have indicated that the Central Bank is open to the possibility of raising the rate, but I want to emphasise that this is not predetermined.
"Yes, there is a new pro-inflationary factor, the exchange rate, and price growth remains high, but we are already observing, according to the latest data, a credit slowdown, including corporate loans.
The Russian Central Bank last raised interest rates in October to a record 21 percent to “prevent [Russia] from entering an inflationary spiral."
But Ms Nabiullina says this has not done enough to quell the inflationary pressure.
She continued: “Unfortunately, inflation this year will be higher than next year. But the path to our target will take all of next year and may extend into 2026."
(Excerpt) Read more at express.co.uk ...
Post #40. You first trolled a post to me.
This is what usually happens just before he gets suspended - he starts posting manically until the mods get tired of it, and then he gets a small FR vacay.
The war is good for Russia, despite suffering from high inflation.
They were stagnating economically the past ten years. Now that they're on a war footing, their economy is expanding again.
The challenge is to transition to a peacetime economy once the war in Ukraine is over.
If they're working more, they're producing more.
That's why inflation came down faster than expected after Reagan's recession ended. Output expanded faster than the money supply.
One of the primary reasons the Russia economy, in addition to the war, is that rich Russians were forced to keep their money in Russia due to the idiotic sanction war Biden started.
How much has Russia printed?
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