Russia’s economy is under fire after central bank Governor Elvira Nabiullina raised interest rates to combat high inflation. Despite initially helping the country weather sanctions and a war in Ukraine, Nabiullina is now facing criticism from top officials who say her actions are harming the economy. Experts predict further rate hikes could push the key interest rate as high as 24%, sparking concerns about the impact on businesses and citizens.
Source: https://www.bloomberg.com/news/articles/2024-12-19/russian-elite-is-angry-at-putin-s-central-banker-over-rate-hikes