Central Bank: monetary policy easing is not on the agenda

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The Bank of Russia can switch to easing its policy only under a number of conditions that are not currently present and easing is not on the agenda. This was stated by the deputy chairman of the Central Bank Alexey Zabotkin.

«If, for some reason, additional shocks or some other factors at some point in the future, a situation develops that the economy may find itself in a situation of significant underutilization of its production resources, a significant increase in unemployment, a significant decrease in inflation below Of course, in these conditions, we, like any central bank, will be ready to pursue a soft monetary policy, as we did, for example, in 2020 at a time of significant risks of economic hypothermia," he said.

According to the deputy head of the Central Bank, at the moment the issue of easing is not on the agenda. He noted that the economy is currently in a state of overheating, and the main goal of the Bank of Russia is to return inflation to the target in 2025.

On Friday, September 13, the Bank of Russia tightened monetary policy again, raising the rate is up to 19%/a>.

Later it became known that