Economics
Putin’s Government Is Fuming After First Rate Hike Since 2014, Sources Say
- Regulator seen overcompensating after missteps in 2014 crisis
- Central bank said rate move needed to control inflation risks
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Top members of President Vladimir Putin’s government are still chafing at the Russian central bank’s decision to raise interest rates last week, according to two people familiar with the matter.
With the Bank of Russia anxious not to repeat its missteps in handling a currency crisis four years ago, the surprise move betrayed signs of panic, said the officials, who requested anonymity to discuss the thinking at the Kremlin and the government.