Russian President Vladimir Putin said on Thursday it was still too soon to feel confident about the country’s economy, although his ministers said the worst is over.
Speaking to a conference of Russian businessmen, Putin said the central bank’s main interest rate, now at 14 percent, remains high but that the level was warranted by the situation.
The central bank cut its main rate, the one-week repurchasing rate, by 100 basis points in a second easing this year. Businesses have complained that it is still too high to spur much-needed economic growth.
“Indeed, for now the key rate is high enough,” Putin said. …read more
Source: Voice of America
