The Bank of Russia can ease monetary policy only if a number of conditions are met. This is not expected today. This is the opinion of Deputy Chairman of the Central Bank of the Russian Federation Alexei Zabotkin, who spoke at the Capital Markets forum. Details are provided by RIA Novosti.
Author:
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According to him, if due to certain factors the economy finds itself in a situation of underutilization of productive resources, increasing unemployment and a sharp decrease in inflation below the target level, then this is possible.
“Under these conditions, we, like any central bank, will be ready to apply a soft monetary policy,” he added.
Zabotkin recalled that in 2020 the Bank of Russia took such a step due to the risks of excessive cooling of the economy. Today it remains overheated. The Central Bank plans to achieve the inflation target set for next year and therefore no easing of policy is expected.
“This is not on the agenda at the moment,” Zabotkin said.
The Board of Directors of the Bank of Russia decided to raise the key interest rate by 100 basis points – to 19% per annum. The decision was announced on Friday, September 13. They also did not rule out further growth at the next meeting at the end of October.
Author:
Nikolai Tikhonov
Source: RB
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