"Our politics is aimed at prevention of extreme scenarios, which means that we cannot let the economy overheat further," Nabiullina said at a press conference following the rates decision.
"It is necessary to make sure that overheating subsides. That said, it is necessary to avoid excessive cooling, which is why we keep a close eye on this," she said.
"Consequently, lending growth notably slowed down in November. We will need some time to assess how steady this deceleration in lending is and how the economy is adjusting to the new conditions."
"Tough monetary conditions have evolved in the context of our rate hikes since June, now reflected in the tightened monetary conditions that exceed our expectations."
Collection
[
|
...
]