Russia's Central Bank Keeps Benchmark Rate Unchanged

The video discusses the central bank's decision to keep rates unchanged despite predictions of a cut. The statement was more hawkish than expected, leading to a rally in the ruble and higher oil prices. The central bank, led by Elvira Nabiullina, prioritizes controlling inflation over stimulating growth, despite the recession. The bank remains independent from government influence, including President Putin. The relationship between oil prices and the ruble is crucial for Russia's budget, with a preference for oil above $50 a barrel.

What is President Putin's stance on the independence of the central bank?

What correlation is important for Russia's budget according to the discussion?