Sberbank CEO Renews Call for Interest Rate Cut - The Moscow Times

The CEO of Sberbank, Russia’s largest lender, renewed his calls Tuesday for the Central Bank to cut its key interest rate, arguing that policymakers have poured too much cold water on the economy in their fight against inflation driven by military spending. “An economy simply cannot survive for a prolonged period under the weight of the extremely high real interest rates we’re seeing today,” Herman Gref said during Sberbank’s annual shareholders meeting.

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