The Central Bank said when it will consider a decision to reduce the key rate.
Deputy Chairman of the Bank of Russia Alexey Zabotkin shared a comment on this topic.
In a conversation with RBC, a representative of the regulator stated that the Russian economy is “overheated.”
The main task of the Central Bank in this situation is to reduce inflation and bring the indicator to an optimal level for the economy.
Zabotkin noted that high unemployment levels are signals for easing monetary policy.
The same measures are taken when inflation has fallen significantly below the required level.
There are currently no such signals in the Russian economy. Therefore, there is no talk of easing monetary policy.
Zabotkin recalled that the Central Bank pursued such a policy in 2020, when the economy was threatened not by "overheating" but by "hypothermia". At that time, the reasons were laid by the pandemic crisis.
