The head of the Central Bank of Russia Nabiullina: high inflation destroys the well-being of people She noted that the regulator could not agree in any way that it is possible to “let inflation go, the main thing is to keep the rate low,” writes TASS.
he influenced financial behavior, shows how people are afraid of inflation, ”she said. The head of the Central Bank called inflation a real disaster that makes people poorer, and stressed that the regulator was obliged to take measures to prevent further price increases. Therefore, Nabiullina explained, the Bank of Russia at the last meeting and raised the rate to 7.5 percent and may consider the need to make similar decisions at the next meetings.
According to the baseline scenario of the Central Bank, inflation this year should be at the level of 7 , 4-7.9 percent, and in the next decline to the range of 4-4.5 percent. For this, the average annual key rate in 2022 will remain at the level of 7.3-8.3 percent, the head of the regulator explained.
The Central Bank made a decision to raise the key rate to 7.5 percent at a meeting on October 22. The increase was the sixth in a row since March, then the rate was at the lowest level in the modern history of Russia – 4.25 percent per annum. The current level is the highest since 2018.