Izvestia newspaper published an author's column by Mikhail Ershov, Principal Director on Financial Studies, Head of the Financial Analysis Department at the Institute for Energy and Finance, on the key interest rate guidelines of the Bank of Russia:
"A more subtle and flexible policy of the regulator is needed, because prices are affected by the instability of the exchange rate, the long-term depreciation of the ruble, the rise in the cost of supplies, the unsettled mechanisms of import payments, and much more.
The current conditions in Russia have their own specifics: the economy is in a phase of transformation and at the same time under sanctions pressure, which significantly increases the need for counteraction measures. Therefore, a wide range of tools is needed to make the fight against inflation effective. And the target level should be at least more realistic and achievable."
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