Russian parliamentarians criticized the central bank governor. – is that so? What nonsense are you talking about? – yelled the MP. A weak ruble and high inflation have forced the Russian Central Bank to repeatedly raise interest rates. The current interest rate is 21%, but experts have warned that it could be raised to 23%.
Lawmaker Sergei Mironov, considered a close ally of President Vladimir Putin, questioned the competence of Russian Central Bank Governor Elvira Nabiullina, accusing her of “sabotage” and saying that raising interest rates would “paralyze the economy.” A Belarusian website reported that Nectar.
– How much has inflation risen? Twice. Are you also right? What nonsense are you talking about? Interest rates paralyze the economy and hinder GDP growth. This is the result of rising interest rates, members of Congress shouted.
Russia: Interest rates are rising. Putin's ally slams central bank chief
According to Bloomberg, Nabiullina wanted to resign after the start of all-out war in Ukraine, but President Putin did not allow her to do so. Economic policies in response to sanctions were aimed at preventing the ruble from collapsing. For this reason, the Politico website has included women in its list of the 28 most influential people in Europe for 2023.
SEE: It was supposed to be a business meeting. It ended with a kidnapping.
Currently, the country's interest rate is 21%, but Russian experts have warned that interest rates could rise to 23%. At the December 20th meeting. This would lead to higher borrowing costs and higher prices for goods and services.
The problem is also exacerbated by the situation of Russia's IT professionals, who are facing mass layoffs before the new year. Employers and governments have tried to retain employees with higher pay and better mortgage terms, but rising interest rates mean tech companies can no longer afford these benefits.
Your browser does not support video players… Read more
Want to get the latest news?
We are preparing an application for your phone. Please check it out!
