President Vladimir Putin’s government is tempting the Bank of Russia to cut interest rates.This week’s announcement to spend more than 200 billion rubles ($3 billion) on a one-time January payment to pensioners, rather than proceed with a possible second increase this year in monthly retirement benefits, is set to help keep inflation in check, at least for now.
Bloomberg: Putin’s $3B gift to pensioners seen clinching a rate cut
Russian President Vladimir Putin listens to journalists' questions during a press conference with his Turkish counterpart in Konstantinovsky Palace outside Saint Petersburg on August 9, 2016.
