Putin on inflation: it will be better – Kommersant

Russian President Vladimir Putin expressed confidence that the inflation rate in the country will improve. The head of state announced this at a meeting with business representatives from the Khabarovsk Territory at the Pacific State University.

“The first thing I wanted to draw attention to. You said that, because of inflation, it looks like things won’t get better. It will be better. Because all the actions of the Central Bank and the government, well, not all, but a significant part of them, the Central Bank for sure, are aimed at suppressing inflation. And I think that we will reach the target indicators,” the president said.

At a meeting with entrepreneurs, the President notedthat the increased key rate of the Central Bank is temporary. He also emphasizedthat the increase in preferential lending reduces the measures of the Central Bank and accelerates inflation.

On December 15 last year, the Bank of Russia increased the key rate for the fifth time in a row – from 15% to 16% per annum. The regulator explained its decision by inflationary pressure.

At the end of December, Deputy Chairman of the Central Bank Alexey Zabotkin said that the key rate will remain at a high level for a long time, but in 2024 it will decrease. In November, the head of the regulator, Elvira Nabiullina, said that the Central Bank would not reduce the rate until inflation dropped to the planned 4%. At the end of 2023, inflation was 7.59%.

Read more in the Kommersant article. “GDP accurate to direction”.

Alexandra Goroshilova