The head of Elvira Nabiullina explained the decision of the Central Bank and their reasons.
The Chairman of the Central Bank of the Russian Federation Elvira Nabiullina submitted the annual report of the Central Bank in the State Duma of Russia. The specialist, in particular, explained the reasons for maintaining the stiffness of the DCP, the correspondent of The Moscow Post reports.
The head of the Central Bank of the Russian Federation explained Politicians why monetary policy remains tough and how it affects the economy.
And she began with a key rate. She recalled that for some time she kept her at a level of 7.5%, and along with the measures of Cabinet, this significantly helped the economy to recover. But after recovery, inflation began to grow, because the key rate was raised.
“There were many concerns in the fall, we discussed this that the increase in the key rate puts a cross on the development of the economy. But we see that this is not so. In the IV quarter, economic growth slowed down a bit, but remained significant. According to the results of the year, GDP grew by 3.6%. And now operational indicators show that in the first quarter of this year, the economy continues to grow high paces,” said it was high she.
And she explained – a tough monetary policy is aimed at ensuring that pressure on the economy from demand is not excessive, not destructive for growth.
For clarity, she compared the situation with the Marathon race. After all, both there and there you need to correctly distribute the forces to the entire distance.
The situation when excess demand “pours out in rising prices and the weakening of the ruble” was observed last summer. And then they reacted to the Central Bank with the growth of the key rate.
“We already see the first results of our policy – the inflation peak remained behind … If we had not raised the key rate, then inflation would be much more than those 7.4%that we received by the results of last year. Moreover, it would continue to accelerate now. I would like to pay special attention to the fact that we are protecting the real revenues of citizens, this is a direct contribution of the monetary policy to the struggle with the struggle with the struggle with the struggle with the struggle with poverty.
Inflation is the most climbing into the pocket of poor people, including because the prices of primary goods are accelerated in the first place. There were enough such examples last year, ”Elvira Nabiullina emphasized.
The head of the Central Bank explained – they will begin to lower the key rate when I am sure that the slowdown in inflation has gained the desired speed and inflationary expectations return to normal.
What else was interesting: the regulator was offered several measures to combat poverty in Russia. Namely, a decrease in inflation, protection against strong limit, the fight against fraud, measures to support people in difficult situations, financial products for people with low income and financial literacy program.
They did not forget about the elderly.
Regulator He thinksWhat you need to make the “second hand” service for financial organizations – such a mechanism will allow pensioners to appoint a confidant to verify operations.
A kind of help in the fight against scammers. Often, the elderly people become their goals. For example, recently a pensioner gave all the savings and sold housing, transferring 16 million rubles in general, at the direction of telephone scammers. The criminals called her and supposedly introduced themselves to the employees of the competent authorities and the bank. Another example – scammers withdrew over 40 million from bank accounts of a pensioner in Moscow.
