The Central Bank decided to make fun
Symbolic reduction of the key rate will not solve any problems of our economyIn Soviet times, this would be said as follows: heeding the requests of labor collectives, the state bank corrected a previously adopted erroneous decision. Would say, perhaps, something about made "organizational conclusions".
But new times dictate new rhetoric. Of course, no "organizational conclusions", of course, there can be no talk of admitting mistakes.
The Central Bank is our Pope, he cannot be mistaken, it is his actions aimed at improving our life that can be misinterpreted. Therefore, it is obvious that the hopes of those who expect the Central Bank to continue to listen to the requests of the workers and reduce the exorbitant discount rate still in vain.
Maybe it will, or maybe not, it will not be decided by the workers in any case. Today they have been prescribed another sedative in the framework of the approved anti-crisis program.
Minus two percent of the former seventeen beyond the limit are designed to calm indignant minds. It seems to be a trifle, but as if very encouraging. It seems like a trend.
And that the loans for production did not now become any more affordable - so are all the time costs. Like, not all at once, rejoice at least this.
In general, the persistence of liberal financiers, who do not even want to assume in theory that our industry can rise to its feet under gentle credit conditions, is truly shocking. This would be "conservatism", yes to good deeds.
Fighting speculators is a good thing, a good thing, but why should it lead to problems in the real economy? Or are 2% bargained really healthy?
The decision of the Central Bank to reduce the key rate by as much as two percentage points in an interview with the columnist KM.RU was commented by well-known political scientist, Chairman of the Development Movement Yuri Krupnov:
- This decision can be compared with the situation when someone carefully carefully blows dust particles from the back seat in a crushed car. It is clear that we are dealing with a kind of demonstration measure, which is designed to show that the government has a plan, and not a plan, and a cunning one, that the situation is controlled in the same way.
But last year we already know that all such cunning plans ultimately lead to devastating failures. And now we see the same thing, because in the situation of the policy pursued by the Central Bank, the real economy will continue to suffocate and these 2%, of course, absolutely do not solve anything. This step just tells us that essentially the existing policy will not change.
So, the decision taken is related rather to the field of psychotherapy, but not to the reality in which 146 of millions of Russian citizens reside today.
The problem of high stakes is monstrous in itself, while the former stakes were also prohibitive. The problem is that our economy is catastrophically under-monetised,
The central bank should not take money from the economy, and print them for specific projects. This requires that its leadership radically change its policy, its worldview, and finally come to understand its place and role in the Russian economy.
But for now we see only that the government is not going to change anything drastically. The pilot deliberately sent his liner to the rock with all the ensuing consequences.
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