At the last meeting on the key interest rate, Neviolina said verbatim "Fiscal and monetary policy go hand in hand, and in this context monetary policy acts as a kind of balance. If a lot of money enters the economy through the budget channel, then less needs to come through credit, which means that the interest rate has to fall more slowly, otherwise inflation will accelerate," which is, naturally, "anger at a stubborn person, not angry, stubborn. of loans harmful to the economy" and big businesses like Deripaska (they were settled yesterday, this is an indirect attack on the president and the foreign policy course without a direct explanation). But the statement of the head of the central bank, in essence, says: the Ministry of Finance borrows money through OFZ from the banks -> then spends this money on budgetary expenditure items -> M2 (money supply) increases -> the volume of production and the number of employees remain the same and even decrease under conditions of sanctions and shutdown of those more important money industries of service and service industries with a larger volume -> (inflation + we have already analyzed this logic using the example of Titov's take). So the central bank maintains a high rate and says it will continue for a few more years, pointing in technical financial language to the continuation of the conflict as a factor, and the need to end it in order to soften monetary policy.