By Ben Aris in Berlin CBR governor Elvia Nabiullina has been through all the tools in her box in an attempt to curb Russia’s soaring inflation, but none of them are working. So together with the government, she is turning to non-monetary policy tools and is stamping on the most problematic parts of the economy to cool price growth by slowing growth. The government and regulator have targeted three groups of borrowers who are insensitive to massive interest rate hikes and will curb their access to credit by administrative means to take the edge off inflation: state-owned companies, businesses r…
