Putin urges authorities and central financial institution to coordinate motion to curb excessive inflation

MOSCOW (Reuters) – Russian President Vladimir Putin referred to as for the federal government and central financial institution to coordinate their efforts to curb excessive inflation, saying on Wednesday that rising the provision of products and providers to match demand was the best way to rein in worth development.

Central Financial institution Governor Elvira Nabiullina stated earlier on Wednesday that annual inflation – presently working at practically 9% – had not began to gradual but. She stated inflation would fall over the course of 2025 earlier than reaching the central financial institution’s goal fee of 4% in 2026.

“It is usually essential to curb inflation, which is presently at a reasonably excessive stage,” Putin instructed a global funding convention organised by Russia’s second-largest lender VTB in Moscow.

“To realize constructive outcomes on this space, coordinated joint actions by the federal government and the Financial institution of Russia are wanted. I emphasise this isn’t an attraction or a want, however I believe, a direct name to motion,” Putin stated.