Nabiullina Lauds Positive Real Rates as Key for Russian Growth

Central bank Governor Elvira Nabiullina has a message for Russian businesses that may be finding it difficult to adapt to positive real interest rates: get used to it.

The Bank of Russia will continue its “moderately tight” monetary policy, with the inflation rate now below its benchmark for the past eight months, Nabiullina told a banking conference in the Black Sea resort city of Sochi on Friday. Keeping real interest rates stably in positive territory is an “important condition for healthy economic growth,” she said.