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The head of the Bank of Russia, Elvira Nabiullina, wore a brooch with the image of scales to a press conference on the key rate, which “may indicate that the Central Bank is looking for a balance in monetary policy and balanced economic growth that will avoid overheating.” It is reported by RBC.
“High inflation is an indicator of the growing overheating of the economy. If no measures are taken to return the economy to a balanced growth path, its overheating will increase and lead to an uncontrolled acceleration of inflation and a subsequent slowdown in economic growth up to a recession,” the head of the Central Bank said.
Following the results of the meeting, the Board of Directors of the Central Bank of the Russian Federation raised the value of the key rate by 100 basis points at once to 9.5% per annum. Thus, the rate was sharply raised already at the first meeting of the Central Bank this year. Meanwhile, the Central Bank of the Russian Federation expects that inflation in the country at the end of this year will be at the level of 5-6% instead of 4-4.5%, which was previously predicted by the regulator
Back at the end of December 2020, in a New Year’s broadcast with Sergey Shnurov, published on the RTVI website, the chairman of the Bank of Russia explained that the brooches she wore at a press conference following the meeting of the board of directors on monetary policy in 2020 conveyed understanding regulator of the situation in the economy.
Source: Rosbalt
Tristin is an accomplished author and journalist, known for his in-depth and engaging writing on sports. He currently works as a writer at 247 News Agency, where he has established himself as a respected voice in the sports industry.
