INSUBCONTINENT EXCLUSIVE:
ahead of the decision, rising by more than 2% to around 95 against the U.S
dollar, before paring gains to fall back below 98 after the rate hike was announced, Moscow Exchange data showed.It was the first
slow down domestic demand and reduce imports
recovery in imports and surging government spending to help fund the invasion of Ukraine have all contributed to a weakening ruble and
rising inflation, analysts say
The Central Bank itself has been warning of inflationary pressures for almost a year, following Russia's mobilization of some 300,000
to accelerate toward 6.5% by the end of this year, according to official forecasts
Other measures of price rises, including core inflation and seasonally-adjusted inflation were running above 7%, the central bank said on
financial panic and inflation at home, by pushing up prices for goods that use imported parts and even for some domestically-produced
Central Bank on a broadcast of his online show, calling on Nabiullina to halt the slide in the ruble ahead of the upcoming presidential
election, scheduled for March 2024
Putin is certain to win the race, which independent observers and rights groups say will be neither free nor fair, but the Kremlin would
militarized in the 18 months since Russia invaded Ukraine, with a massive ramp-up in arms production and payments to soldiers offsetting a
sharp drop in retail sales, foreign investment and energy exports.
