Too fast reducing its key interest rate now, you can create a risk that rates will start to rise in the future, said the head of the Central Bank Elvira Nabiullina.
MOSCOW, 13 Nov. The Bank of Russia sees a sharp easing of monetary policy (DCT) the risk of rising rates in the future, the regulator cannot allow that to happen, said the head of the regulator Elvira Nabiullina.
According to her, the special importance for the Central Bank have a long-term market interest rates for the economy. “They will fall only if inflation drops, inflation expectations. It is important to consolidate this trend, it is trend to lower long-term interest rates,” Nabiullina said, speaking in the state Duma.
“Taking a decision on interest rates, we must take into account current and future risks for economic growth and for inflation. Reducing too rapidly (key) bet now, we can create a risk that rates will start to rise in the future. We must not allow this”, — said the head of the Central Bank.
The Bank of Russia on 30 October again did not change its key interest rate, which from August 3 kept at 11% per annum. The Bank of Russia gave a signal to the market that one of the next meetings of the Board of Directors may resume lowering rates in the case of deceleration of inflation. The following, concluding in 2015, the Board of Directors meeting will be held on December 11.