What the Heck Is Russia’s Central Bank Doing?

What the Heck Is Russia’s Central Bank Doing?

I continue to wonder who Bank of Russia President Elvira Nabuillina works for. Seriously. On Friday, in response to solid growth in Russian economic statistics over the past few months, Nabuillina again raised interest rates 0.25%.  She still adheres to idiotic IMF-style ‘inflation targeting’ dogma. Price inflation in Russia finally got off the roughly 2.5%…