Today Elvira Neviolina spent 3 hours convincing the State Duma deputies that the Central Bank is specifically stabilizing demand in the Russian economy, whose problem is now a shortage of goods, not money.
Therefore, the Russian Federation does not need a reduction in tariffs, but an increase in productivity: without this, cheap loans will only accelerate inflation again. "Main directions" of the monetary policy for the year 2027 and the period 2028 and 2029. and promise to maintain the increased rate until output catches up with demand.
Judging by the response, the Central Bank's plan for monetary policy for the next 3 years passed the State Duma filter - and the responsibility for macroeconomic stability is now largely placed on the government.
How Naviolina defended the strict monetary policy in front of the State Duma, why she refused to reduce the rate to 10% and what she answered to the deputies who asked "not to put pressure" on the economy - read Expert's material.