Russian President Vladimir Putin at a meeting on economic issues on Thursday, February 17, called on the government and the Central Bank of the Russian Federation to coordinate efforts in the fight against inflation.
“In my opinion, what should be paid special attention to is that inflation has recently become a serious challenge for most countries of the world. In Russia, the growth of consumer prices in January amounted to 8.7% in annual terms, and this is noticeably higher than the established target (the Central Bank’s goal of 4% – Ed.),” the head of state said.
However, he clarified that “in the so-called developed market economies, too, things are not much better.” It is necessary, the head of state assured, to take effective measures to reduce inflation in Russia.
“And of course, the role of both the government and the Central Bank is significant here, which maintains a responsible approach to the implementation of monetary policy. It is important to coordinate the efforts of the Central Bank and the government – of course, while fully preserving and respecting the law on the Central Bank,” the Russian leader explained.
According to him, taking into account the impact on business and investment activity, such joint work should be aimed at eliminating internal and external factors of inflation.
Earlier, on February 11, the head of the Central Bank of the Russian Federation, Elvira Nabiullina, said that the Bank of Russia would raise the key rate until the Russians realized that deposit rates compensated for inflation. On the same day, the regulator raised the key rate for the eighth time in a row, to 9.5% per annum. As noted in the Bank of Russia, inflation is developing “significantly higher” than the October forecast.
Analysts polled by Izvestia on February 7 also predicted a 1 percentage point increase in the key rate. – up to 9.5%. 9 out of 16 polled analysts from the largest Russian banks spoke in favor of such a scenario. The main reason for this scenario was the continued rise in prices.
Source: IZ
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
