The Chairman: monetary policy the Central Bank will remain strict

The Chairman: monetary policy the Central Bank will remain strict


Loose monetary policy is fuelling inflation and not absolutely necessarily contributes to economic growth, says the first Deputy Chairman of the Central Bank Dmitry Tulin.

MOSCOW, 23 Oct. Monetary policy the CBR will remain balanced, but strict, said the first Deputy Chairman of the Central Bank Dmitry Tulin.

“Monetary conditions should not be too soft and not too hard,” said Tulin at the meeting of the working group in the Duma, introducing the draft monetary policy of the Russian Federation in 2016-2018, “Optimal”, he added.

Loose monetary policy is fuelling inflation and not absolutely necessarily contributes to economic growth, explained the first Deputy Chairman of the Central Bank.

“Our monetary policy will remain balanced, but strict,” — said Thulin.

The Central Bank is focused on reducing inflation to 4% by the end of 2017 and this task is achievable, he said.