🇷🇺 Russia’s Inflation Expected to Decline and Stabilize by Year-End – Elvira Nabiullina, Governor of the Bank of Russia
➡️The recent strengthening of the ruble will help curb inflation if the trend remains stable.
➡️The key interest rate is not a “magic wand”—lowering it amid high inflation poses significant risks.
➡️Raising the key rate is still “on the table” if inflationary risks materialize.
➡️Government spending is expected to slow in the coming months, which will have a disinflationary effect.
➡️The Bank of Russia plans to tighten measures against financial fraud.
➡️The central bank supports increasing fines on banks for pushing unnecessary financial services.
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