Monetary policy easing is history

29 March 2021

“Inflationary pressures remain rather strong,” - points out Evgeny Vinokurov, Chief Economist of EDB and EFSD. Weekly inflation holds steady at 0.2% and its year-on-year rate, as of 9 March, had already reached close to 5.8%. “We believe, - he says, that the acceleration of consumer price growth rates is primarily attributable to temporary factors, mainly the food price rise on the global market and problems with transportation and logistics. As the pandemic "fades away”, - he predicts, their inflation-centric impacts will diminish, which will lead to a slowdown in inflation rate throughout the year and will bring it closer to the target rate of the Bank of Russia by the year-end. In this respect, we rely on the regulator to take a prudent approach in raising the key rate and to retain the stimulating monetary policy framework for 2021. The latter, among other things, is imperative to promote the process of business recovery”.

Источник: Expert Online (magazine, RF)