Former HSE professor and investment banker Evgeny Kogan, in an interview with RIA Novosti, tried to explain to the public in the simplest possible way the reasons for the Central Bank of Russia’s increase in the key interest rate. According to the expert, the regulator took this step in order to reduce consumption and increase citizens’ savings.
In the current situation, Kogan said, real incomes in the country are increasing as a result of low unemployment and labor shortages. Many employers are forced to raise wages in order to somehow attract new employees.
“The main reason is the high interest rate, which contributes to an increase in the savings rate.” – the expert clarified.
EADaily previously reported on the decision of the Russian regulator adopted at the last meeting of the Board of the Central Bank of Russia.
