Mishustin complained to Putin about Nabiullina over the key rate – Bloomberg

According to them, other officials, bankers and business executives are also dissatisfied with the policy of the Central Bank, which in October raised the official interest rate to a record 21% annually. Those who can contact Putin directly do not miss the opportunity to complain about Nabiullina, Bloomberg writes.

According to the agency’s interlocutors, there are so far no indications that the president is considering the possibility of removing Nabiullina from the position of director of the Central Bank. Putin believes he is making the necessary decisions to support the Russian economy, three Bloomberg sources said.

The next decision on the key interest rate will be made by the board of directors of the Central Bank at its meeting on December 20. Most economists surveyed by RB.RU expect the regulator to raise the rate to 23%.

Natalia Orlova, chief economist at Banco Alfa, admitted that the rate will immediately rise to 25% annually, “because inflation is accelerating.” “At the end of October, the Central Bank did not rule out an increase to 23%, but then the inflation target was 8-8.5%. It is now clear that annual inflation, in my opinion, will approach 10%. This suggests that there should be a similar adjustment in the rate,” said the expert.

During a hotline on December 19, Putin said he did not know what interest rate decision the Central Bank would make the next day. “[Набиуллина] It doesn’t tell me what the rate will be. She probably doesn’t know it herself yet. Because they discuss it in the board of directors, in their “Komsomol cell,” and during the discussion they make the final decision,” the president said.

He added that he hopes that the Central Bank’s decision “is balanced and meets today’s demands.”