Russian Samovar: In the new economic and fiscal environment, the Central Bank is failing to cool down the economy using conventional methods
At the beginning of autumn, the Russian economy was not just growing, but also received fresh impetus due to the surge in oil prices and export revenues. According to the analysts at the Central Bank, in their latest assessment of the current economic situation, economic activity is hitting record levels. However, this only underscores the fact that combating economic overheating through a sharp increase in the key interest rate is not currently proving possible.