The head of the Central Bank of Russia, Elvira Nabiullina, said at a press conference following a meeting of the board of directors that the financial regulator’s basic forecast does not imply a recession in the Russian economy. “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.