(Bloomberg) A war launched by the Kremlin against Ukraine took the blame for driving up the global cost of everything from food to fuel, prompting international sanctions that also contributed to one of the biggest price shocks in modern Russian history. But a year on, and even as inflation continues to rage in many major economies, price growth in Russia has plunged near the level in Japan and well below those seen in the US and the Eurozone. On an annual basis, Russian inflation reached 3.5% in March from almost 11% in the previous month, according to data released on Wednesday. It’s now at a fifth of its peak last year and under the central bank’s 4% target for the first time since 2020. The stark contrast with much of the rest of the world has allowed Putin to score easy political points with his domestic audience, highlighting Russia’s resilience and claiming sanctions against his country backfired on those who imposed them. In televised remarks on Tuesday, Putin said infl
(Bloomberg) Lebanese central bank Governor Riad Salameh said for the first time he plans to leave after his term expires later this year, bringing to an end a three-decade tenure marked by controversial policies that have been blamed for the country’s financial implosion. Salameh, 72, who’s also the target of international investigations into money laundering and embezzlement, told Asharq TV in an interview on Friday that he won’t seek a new term. The veteran banker maintained his innocence and said he has the documents to prove it. “The decision for me is that when the term ends, it will be a turned page in my life and I will pursue things outside the central bank’s work,” Salameh said in the interview. The departure will open a new chapter in a crisis labeled by the World Bank as one of the worst globally since the mid-19th century. Known on Wall Street and in foreign capitals, Salameh has been one of the few constants in Lebanon as Beirut wrestled with war, debilitatin