Business Ombudsman Boris Titov criticized the Central Bank’s decision to increase the interest rate. In his opinion, the Central Bank “reacts to momentary difficulties, but does not create conditions for development.” He wrote it himself telegram channel.
“With the current monetary policy, we will freeze, we will freeze,” Titov said. He noted that “demand has accelerated” in the country and the Central Bank has “tightened the sails” to control the situation. At the same time, according to Titov, the Central Bank “sees continued weakness in domestic supplies for most goods.” The Ombudsman said this meant “the economy could be at the mercy of the wind”.
He emphasized that instead of increasing interest rates, it is necessary to solve the problem of labor shortage and look for those who are ready to come to Russia and work.
The Central Bank took a decision at its last meeting increase will increase the rate by another 1 basis point to 13% annually.
Previously in Russia guess Strengthening of the ruble exchange rate by the end of the year.