Sberbank's Gref urges timely easing of monetary policy as economy shows signs of slowdown

Russia's biggest bank chief wants interest rates to come down fast. German Gref runs Sberbank and talked about money policy during the major business meeting. He thinks the Central Bank needs to act before economic problems get worse. The country already shows clear signs that business activity is slowing down. Gref believes officials must move quickly or miss their chance to help.

Sberbank expects the Central Bank to cut rates significantly before 2025 ends. Gref pointed out that inflation stays low but real interest rates climb above ten percent. He called this situation very expensive for businesses trying to borrow money. The bank leader said economic cooling becomes obvious when you look at the numbers. Government officials need perfect timing to balance different economic pressures.

Central Bank chief Elvira Nabiullina promised to lower rates as price increases slow down. She mentioned that inflation drops faster than her team originally predicted. Government data shows annual inflation fell from 9.73 percent to 9.60 percent during recent weeks. Bank officials use different methods to calculate these important economic measurements. Both leaders agree that changes must happen gradually to avoid creating new problems.