Putin admits Central Bank ‘struggling’ to cut rates, warns of rising prices

Russian President Vladimir Putin acknowledged that the Central Bank is “struggling” to lower interest rates without sparking new inflation, warning that a sharp cut would drive up prices. Speaking at the Eastern Economic Forum in Vladivostok, he said, “If inflation overwhelms the economy, nothing good will come of it.” The remarks come amid concerns over a slowing economy. Sberbank chief German Gref said this week that Russia has entered “technical stagnation,” arguing the current 18% key rate must drop closer to 12% to stimulate recovery, News.Az reports, citing foreign media. Official data shows annual inflation eased to 8.8% in July,...