Putin meeting with Nabiullina stressed the need to coordinate OST’s

Moscow. January 29. President Vladimir Putin drew attention to the independence of the Central Bank of the Russian Federation from Executive power, and at the same time noting the need for coordination of monetary policy.

“Yesterday we discussed the economy and monetary policy. Today in this context, I would like to talk with the Chairman of the Central Bank, and with the Minister”, – said Putin during a working meeting with Central Bank Chairman Elvira Nabiullina and the Minister of Finance Anton Siluanov. Also the meeting involved assistant to the President Andrey Belousov.

“I want to emphasize that the Central Bank in accordance with the law is an independent institution with its own jurisdiction. We are here to exchange opinions, to look at prospects of development of the situation, the work was coordinated,” added Putin.

Earlier on Friday, the Board of Directors of the Central Bank of the Russian Federation for the fourth time in a row decided not to change its key interest rate, which is at 11%. In the traditional statement of the Council of the Central Bank about a potential rate reduction on one of the next meetings was replaced with a warning about a possible tightening of the OST in the case of growth of inflation risks.