Putin: if the key rate is sharply lowered, prices will rise

If the key rate of the Central Bank of Russia is sharply lowered, prices will rise. This was announced on September 5 by Russian President Vladimir Putin during the plenary session of the Eastern Economic Forum (EEF).

"For sure, many people sitting in the audience here will say: yes, this is an outrage, it is impossible, the key rate needs to be sharply reduced. But then prices will rise," Putin said.

He noted that the price increase is a consequence of inflation, which the Central Bank of the Russian Federation is struggling with, trying to return to the required indicators, not exceeding 4-5%. At the same time, he stressed that the Russian financial authorities, the government and the Central Bank act professionally, always proceeding from the fact that the basic condition "for the development of the Russian economy, and therefore the social sphere, is a sustainable macroeconomic policy."

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Earlier in the day, Kremlin spokesman Dmitry Peskov said that the current economic situation makes it possible to make development plans for many years to come. He noted that at the moment there is a controlled cooling of the Russian economy.

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