Aleksey Zabotkin, Deputy Governor of the Central Bank of Russia, said in a live broadcast: digital audio file The legend that the Central Bank’s monetary policy decisions are taken by the Board of Directors of Channel One “Easy Money” and that global finance is subject to “behind the scenes” took shape in the 90s.
“The decision on monetary policy at the Central Bank is taken by the Board of Directors of the Central Bank. Regular meetings dedicated to the rate are held eight times a year. Decisions taken are prepared throughout the entire meeting cycle,” he said.
According to Zabotkin, the world legend “behind the scenes” was formed during the period of hyperinflation and large budget deficits in the Russian Federation, and the International Monetary Fund actively helped the country to achieve macroeconomic stability. Prior to that, as the vice-president of the Central Bank noted, the IMF provided loans to the Russian economy, but in 2002 all loans were repaid.
Earlier, the Governor of the Central Bank of Russia, Elvira Nabiullina, stated that the initiatives come back Russia’s foreign currency reserves frozen in the West continue.