“A blow to the citizens”: economist Kogan estimated the rise in the key rate
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Economist Yevgeny Kogan criticized the decision of the Central Bank to raise the rate to 12% per annum. As it turned out, this did not lead to a significant depreciation of the dollar and the euro, while the cost of mortgages for citizens and commercial loans for enterprises will increase, which can lead to bankruptcies.
As noted by an expert in interview “Moscow says”, the rate is a tool that will hit the economy mercilessly.
“Someone will go bankrupt who will not be able to refinance at these high rates,” Kogan suggested, adding that the economy and citizens will be hurt after this decision.
The economist agreed that a high rate will slow down inflation, but this is an additional increase in costs, which will still hit the economy and finances of enterprises.
As for the ruble exchange rate, Kogan suggested that the Central Bank would act not only with one rate and other measures would be taken – verbal and administrative in nature.
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