The soft monetary policy pursued by the states of the world can lead to unpredictable consequences in the future, said Andrei Kostin, VTB President and Chairman of the Board. He noted that negative consequences may come now and affect, among other things, the Russian market.
“I would like to express one concern. Further continuation of the soft monetary policy, in my opinion, in general, may have unpredictable consequences, “said Mr. Kostin during the International Financial Congress (quoted by TASS).
In June, the US Federal Reserve System kept its key rate at 0-0.25% per annum, established from March 2020. At the same time, the regulator hinted that it expects two increases in the key rate by the end of 2023. Prior to this, the Central Bank of Russia raised the rate to 5.5% and noted that due to the continued growth of inflation, the rate will rise.
How Russian banks reacted to the increase in the rate of the Central Bank – in the material of “Kommersant” “The rate of hope.”