Economics
Putin Hails Central Bank for Averting Turkish-Style Crisis
- Bank of Russia raised rates 425 basis points this year
- Putin says he doesn’t meddle in the central bank’s work
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President Vladimir Putin endorsed the Bank of Russia’s hawkish policies to battle inflation, saying the country could end up facing an economic crisis like Turkey’s if it failed to raise interest rates.
“I know that the real sector is unhappy with the rate hikes,” Putin said at his annual year-end press conference Thursday. “But if it wasn’t done, we could end up like Turkey, with the same problem.”