“We need to raise rates in a timely manner so that there is no risk of recession,” she said.
According to her, it is necessary to make decisions so that the imbalance between the growth of demand and the production of goods and services that does not catch up does not lead to a constant sharp increase in inflation, which would then have to be reduced by a much larger and prolonged increase in rates, which could lead to a recession.
“Our baseline forecast does not assume a recession,” the head of the Central Bank noted.
Earlier, the Central Bank of Russia stated that it would continue to take actions aimed at achieving annual inflation of 4%.