"In conditions of high inflation, it's practically impossible to form business plans," Putin said at the Eastern Economic Forum in Vladivostok.
The rouble hit its strongest level in almost six weeks against the dollar in early trade on Tuesday, buoyed by gradually increasing foreign currency sales by exporters and prospects that the central bank may hike rates again this week. He said the government saw no need to raise taxes for now. It has imposed a windfall profit tax on some companies this year to increase budget revenues.
Most analysts expect another hike this Friday, but some top bankers have said a hold is more likely, especially as the rouble has strengthened this week.
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