Alongside cutting the rate by a quarter of a percentage point, the Bank of Russia revised its medium-term macroeconomic forecast...
Forwarded From Радио Свобода / Radio Svoboda (ru)
Alongside cutting the rate by a quarter of a percentage point, the Bank of Russia revised its medium-term macroeconomic forecast. Economic growth will be lower: the lower bound of the range has dropped to zero. And inflation is 1.5 percentage points above the previous forecast, which effectively points to stagflation. The budget deficit by the end of the year will exceed 8 trillion rubles. To finance it, they will have to turn on the printing press.
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Radio Svoboda
The Central Bank is changing its concept. Russia may turn on the printing press
Alongside cutting the rate by a quarter of a percentage point, the Bank of Russia revised its medium-term macroeconomic forecast. Economic growth will be lower: the lower bound of the range has dropped to zero. And inflation is 1.5 percentage points above the previous...
Rate Cut Meets a Zero Growth Forecast
They cut the rate, erased growth, and eye the printing press for the deficit.
The strategy ended in printed money.