Inflation & Prices
Putin Confronts Financial ‘Waterloo’ Risk to Choke Off Inflation
- Central bank gets greenlighted to keep monetary policy tight
- Heavy spending linked to war effort has put pressure on prices
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As Russia’s central bank prepared to lift interest rates last week, an executive at a top state lender warned policymakers were confronting no less than their “Waterloo” — a battle with inflation whose outcome would prove momentous for the country’s financial institutions and markets.