On Friday, September 13, at a meeting of the Central Bank of Russia’s Board, a decision was made to raise the key interest rate. The head of the regulator, Elvira Nabiullina, then commented on the degree of effectiveness of this measure in the inflation control strategy. TASS reports the details.
Nabiullina is confident that the Bank of Russia is far from a situation where the increase in the official interest rate will cease to be effective.
“Yes, we can assume a situation of essentially fiscal dominance, when the key rate largely loses its effectiveness. But, in my opinion, we are very far from this situation because we have low public debt. Therefore, it is very important to keep the level of public debt at a manageable level.” – said the head of the regulator.
The opinion of this economist was expressed after the meeting of the Council. Previously EADaily reported an increase in the key rate in the country.
