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The British secret service has published a report warning that the Russian Central Bank’s decision to keep the price of silver at 21% is exacerbating the effects of overheating.
The UK’s secret service points to imbalances in the Russian economy, which has been affected by the war in Ukraine.
The BCR’s decision to keep interest rates at their current level exacerbates the imbalances in the economy due to the inflationary effects of the ruble’s depreciation, labor shortages and high public spending, the Ministry of Defense said in a statement.
This statement refers to the December 20 decision to maintain interest rates, which represents a change in policy, hitherto focused on controlling inflation. In October, rates were raised from 19% to 21%, the highest rate since the start of the war in 2022.
“Russian employers are increasingly critical of high interest rates, but inflationary pressures are also very likely to intensify, partly due to the recent depreciation of the ruble,” again according to the British secret service.
Russia economic decisions aggravate overheating – Intelligence service
