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MOSCOW, March 22 The Central Bank continues to observe signs of overheating in the Russian economy, but its peak has already been passed, however, demand growth continues to exceed supply capacity, the head of the Central Bank said Elvira Nabiullina
“»We continue to observe signs of overheating, but overheating, or the excess of demand over the possibilities for increasing supply, or, as we call it, the output gap — these are quantities, an unmeasurable quantity. But one of the indicators of the level of overheating, or the level of the output gap is inflation, it signals this, whether there is an imbalance or not,» Nabiullina said.
«And we see that inflation is slowing down now, and in this sense, we can say that yes, The peak of overheating has probably passed, but nevertheless demand, demand growth continues to exceed supply capabilities,” she added.