Russian GDP Drop Eases as Nabiullina Says Inflation Risks `High'

  • Bank of Russia governor sees grounds for `cautious optimism'
  • January GDP shrank 2.5% from year earlier, ministry estimates

Russia’s economy contracted at a slower pace in January and central bank Governor Elvira Nabiullina warned that inflation risks remain “high,” complicating the picture for policy makers in the weeks before they review interest rates.

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