The Central Bank criticized the proposal to grant the Cabinet of Ministers the authority to adjust monetary policy (MP).
Earlier, members of the Russian Union of Industrialists and Entrepreneurs (RSPP) put forward such an initiative.
The Bank of Russia noted that coordinating the rate policy with the government could significantly slow down the regulator’s work in the context of the fight against inflation, RBC reports.
Representatives of the Central Bank believe that the adoption of such a decision will increase inflationary and devaluation expectations.
The regulator added that the adoption of such innovations in conditions of strong inflationary pressure is doubly dangerous.
The Central Bank advocates autonomy in the matter of making decisions on the key rate.
A new meeting of the Bank of Russia Board of Directors on the key rate will be held on December 20.
The regulator does not rule out that the course of tightening monetary policy will be continued against the backdrop of high inflation.
