You're reading: Bloomberg: Putin’s $3B gift to pensioners seen clinching a rate cut

President Vladimir Putin’s government is tempting the Bank of Russia to cut interest rates.This week’s announcement to spend more than 200 billion rubles ($3 billion) on a one-time January payment to pensioners, rather than proceed with a possible second increase this year in monthly retirement benefits, is set to help keep inflation in check, at least for now.

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