Russian billionaire declared growth of key rates of Central Bank by attack on income of citizens

Russian billionander Oleg Deripaska commented on the increase in the key rate central bank, calling such a decision to attack the income of citizens and profit of companies. He expressed the appropriate criticism in his Telegram-channel on Saturday, March 20th.

At the same time, Deripaska drew attention to that raising the rate, in his opinion, is no longer economic, but political goals. In his opinion, the Central Bank “decided to bury the young government of technocrats [Mikhail Prime Minister] Mishoustina, who is unlikely to succeed in the fall of the new Duma.” Deripaska explained this in the lack of growth of the revenues of the poorest Russians against the background of the restoration of the global economy.

“Citizens no longer believe” breakfasts “, and the government will not have anything to achieve, until the monetary policy of the Bank of Russia will change,” the billionaire emphasized.

On Friday, March 19, the Central Bank for the first time since December 2018 raised the key rate. It grew by 0.25 percentage points – up to 4.5 percent per annum. At the following meetings of the leadership of the regulator, the closest of which will be held on April 23, it is possible to further raise the rate. The Central Bank expects the annual inflation rate to return to the target level of four percent in the first half of 2022.

The appearance of the head of the Elvira Nabiullina regulator can also testify about the tightening of the credit policy. At the meeting on Friday, she was in a red jacket and with a breakdown in the form of a hawk, descending to prey. The hawk is one of the classic signals for the market. With this bird describe the tightening of monetary policy, including the increase in key bet. The opposite signal serves a pigeon.

Increasing the rate may affect the reduction of inflation rates and will allow you to attract foreign capital, since investors often prefer to invest in countries with high key rates, which will entail the ruble rate. On the other hand, loans can be expensive, because of which the capital inflows in the economy will slow down in the country.

/Media reports.