The increase in prices will affect previously unforeseen factors
inflation in 2014 could exceed 7.5%, due to unforeseen factors, said the head of the Bank of Russia Elvira Nabiullina at cabinet meeting who considered the draft guidelines of the state of monetary policy in the 2015-2017 period. Read also: The sanctions will prevent the central bank to perform standard inflation
She recalled that it was initially planned that the annual inflation rate of 5 %. “At the moment inflation is under the influence of mainly external and unforeseen factors greatly accelerated,” – said Elvira.
With its consensus forecast, Russian Prime Minister Dmitry Medvedev. He also believes that by the end of this year, inflation will be more than 7%. “This year, political and economic circumstances have changed significantly,” – he explained.
Prime Minister also said that the Bank of Russia offers to complete the transition to inflation targeting and set targets consumer price growth at 4% per year , from 2016 onwards. “Thus, we send a signal to business and investors, our business partners, relying on their trust in our economic policy, the fact that policies will contribute to a stable position of the ruble as currency savings, and will contribute to the normal foreign trade transactions, make loans more affordable enterprises “, – said the prime minister.
At the same time, the head of the Central Bank doubts that the reduction of the key rate to 6.4% would lead to a reduction in lending rates to banks. She also stressed that the regulator can not directly regulate the rates banks and force them to “give out cheap loans to borrowers».
In conclusion, Elvira noted that the country’s economy in terms of structural constraints remain inertia.
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