Russian President Vladimir Putin has admitted that the Central Bank is struggling to cut interest rates, a move that has drawn criticism from many in his own party. The admission comes amid growing concerns over the economy’s performance, with some analysts warning that high interest rates could stifle economic growth and investment. During a recent meeting with senior officials, Putin acknowledged the Bank’s challenges in implementing rate cuts, suggesting that the central bank may require additional support or policy adjustments to meet economic targets.
The Central Bank of Russia has been under pressure to lower rates to stimulate economic activity, particularly as inflation remains a concern. However, the Bank has been hesitant to act due to fears of exacerbating inflation or causing currency instability. Putin’s admission highlights the internal rifts within the government and the complexity of managing economic policy in a volatile global environment. Analysts are now closely monitoring the situation to see if the Central Bank will take decisive action in the coming months.