Putin: Must pay special attention to containing Russian inflation

[admin]

Russian President Vladimir Putin on Monday said that special attention needed to be paid to containing price rises, while pointing out that inflation was trending lower. The central bank is widely expected to keep interest rates on hold at 16% at its rate-setting meeting on Feb. 16, after hiking rates by 850 basis points since July in the face of stubborn inflation pressure from labour shortages, rouble weakness and high budget spending. "Of course, special attention should be paid to inflation, its containment," Putin said in a televised meeting at which Central Bank Governor Elvira Nabiullina also appeared following a weeks-long, unexplained public absence.