Bank of Russia Elvira Nabiullina
The head of the Bank of Russia Elvira Nabiullina announced plans of his department to lower the key rate. Makes it will not be at the expense of inflation
As Nabiullina said in the program “Vesti on Saturday”, the Bank of Russia intends to reduce the key rate, but will take into account the inflation factor.
«We, certainly understand that now is the availability of credit is low, interest rates are quite high for our enterprises. And we intend to reduce the key rate, but not at the expense of inflation. We must not allow the situation when we bet will be reduced, and inflation will continue to grow “, – quotes its” Interfax »
The head of the Central Bank called the illusion of the assumption that the rapid decline in key interest rates can spur growth.. According to her, only short-term effect can be achieved in this case. necessary to carry out structural reforms and improve the investment climate for economic growth.
«The economy must be transformed in the direction of diversification. It takes time to build up investments to increase production. We expect that the economy will show positive growth, begin to enter the positive zone. And in 2017 will go to sustainable positive, “- she explained
March 24 Nabiullina said that the key rate will decline as inflation deceleration.. Also important, she said, long rates in the money market, which serve as a reference point for long-term loans. “During the time that we left the rate unchanged – 11%, we have long rates declined. They dropped from 11 to 9-9.5%, “- said Nabiullina
Earlier RSPP congress about the key rate expressed as Minister of Economic Development and the Ministry of Finance. Head of MED Alexei Ulyukayev suggested that slowing inflation gives grounds to reduce the key rate of the Central Bank, the inflation, he said, will be lower than 8%. Finance Minister Anton Siluanov said that strict control over the budget deficit will allow the Central Bank to reduce rates in the future.
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