Economy: Making Russia Safe Again

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The CBR can support consumer demand by gradually bringing its key rate closer to more comfortable levels, where the word “comfortable” means comfort not to the foreign buyers of the government bonds and not to local banks, but to local consumers and producers. Amid the recent hunt for yields a twin-surplus Russia is seen as kind of a relatively safe place compared to its peers. For ordinary Russians the country’s surpluses are of lesser importance, as economic “safety” means a stable and reasonably high rate of growth of their income (and the economy as well). As the y-o-y inflat