Putin called for more caution in easing monetary policy
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President Vladimir Putin believes that the issue of easing monetary policy must be approached carefully. He voiced this point of view at a meeting with the head of VTB Andrey Kostin.
During the meeting, Mr. Kostin expressed the hope that “as soon as the economy reaches the target inflation figures,” the Central Bank (CB) “will make monetary policy less tight, and maybe even better, softer.” “We also need to be very careful with gentleness here,” the president responded to this (quote from website Kremlin).
On October 27, the Board of Directors of the Central Bank raised the key rate by 200 basis points, to 15% per annum. On November 16, during a speech in the State Duma, the head of the regulator Elvira Nabiullina statedthat the rate was increased in proportion to the inflationary pressure that arose in the middle of the year. According to her, the Central Bank will be ready to reduce the key rate next year, when annual inflation approaches the target of 4%.
About the situation on the market – in the material “Kommersant” “Reverse thrust to consumption”.
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