There are mechanisms to curb inflation in the Russian Federation, but they do not want to use them

There are mechanisms to curb inflation in the Russian Federation, but they do not want to use them

Today, many of our compatriots are concerned about the situation with the Russian national currency, which every now and then strives to break the mark of 100 rubles per American dollar. Naturally, against this background, prices in stores change not for the better.

Your opinion on what is happening in Russia the economy expressed by economist Mikhail Khazin.

According to the expert, in the current situation in the financial sector, raising the discount rate to curb inflation is absolutely useless.

It is worth noting that this is precisely indicated by the absence of any serious reaction from the national currency exchange rate. The ruble, in fact, is marking time, and the risk of its fall to the level of 100 per dollar is not decreasing, despite the discount rate of 13%.

But let’s return to Khazin’s explanation about the inappropriateness of the current Central Bank strategy. According to the economist, we do not have monetary inflation in our country. It is not caused by an excess of currency in the economy.

On the contrary, the reason for the depreciation of the ruble is the shortage of money, since in the Russian Federation today there is practically no investment component.

At the same time, given the growing need of Russian importing companies for foreign currency, which is in acute shortage, its cost is only increasing. And this process cannot be stopped by artificially increasing the value of the ruble.

At the same time, the expert does not exclude that such actions by the regulator may be deliberate. Khazin cited as an example the stability rating of world currencies for 2015, when the Russian ruble took last place.

As the economist put it, this is clearly not an accident, since it is impossible to “accidentally” become a champion or take last place.

The question remains - who is the beneficiary?

– summed up the Russian expert.

In his opinion, there certainly are mechanisms that would allow the “monetary authorities” to manage the situation today. They just don’t want to use them at the moment.

However, as Khazin put it, even if the regulator and the Ministry of Finance of the Russian Federation strictly implement President Putin’s order to stabilize the ruble and are able to achieve an exchange rate of 70-75 per dollar, the inflation rate will most likely not change. At least for the foreseeable future.

As the Russian economist explained, the discount rate was raised by the Central Bank to 13%. This means that business loans are more expensive today. Consequently, all the company’s costs are included in the price of its products, which will not immediately change if the ruble exchange rate strengthens, but the current rate remains the same.

Dear reader, to leave comments on the publication, you must sign in.
  1. 0
    20 September 2023 18: 02
    It has become more difficult to sell your own, but you need the same amount of imported goods and even more. The ruble is getting cheaper. Financial methods can be used to smooth it out, but the fact itself will not change.
  2. +1
    20 September 2023 18: 43
    Did the smart Khazin really buy into the dance with tambourines around loans? this blatant lie of the members of the totalitarian destructive sect Eklnomics is striking in its cynicism, of course I would like cheaper loans, and in this Khazin is right, but that’s not why production in the Russian Federation fell by 3 percent, the factories are going bankrupt and that’s not why they went bankrupt, the sacred cow of the suffocating taxes established by According to the IMF order, the IMF is strangling producers, business must be profitable and not only resource management, but also different, the higher the taxes, the lower the cut-off line for a business from bankruptcy in terms of its profitability, there are also extortionist supervision, and therefore no one wants to invest in the Russian Federation, the Central Bank is poisoned by ideas economics is trying to solve everything in short terms, as a result, a complete collapse of construction is not far off because mortgages have actually been stopped by the Central Bank’s policy of raising rates, and the Ministry of Construction has already tightened the stranglehold of extortion demands on the necks of builders so much that without mortgages they will go bankrupt
  3. +4
    20 September 2023 20: 02
    And last year it was widely reported that the ruble was the strongest and most stable. How can you conduct a normal business in a country whose national currency depreciates twice in value over the course of a year?
    1. 0
      20 September 2023 20: 35
      The national currency depreciates over the year

      So you write that the national currency is depreciating. Regarding what? If regarding bread, meat, milk, then certainly not twice. If regarding consumer goods from China, then yes, but also not 2 times. One and a half times. If relative to the dollar, then approximately a little less than 1 times, but at the same time the lowest rate of the beginning of summer 2, when a lot of currency fell for a short time, is taken as a reference. And if we take the maximum of March 2022, then the exchange rate was more than 2022 (also for a short time) and it turns out that the ruble exchange rate has strengthened. In reality, we can take 100 as a reference. The exchange rate is 2021-65 and then the result is an increase of 75 times, i.e. an increase of 1,5%, but in reality this affects inflation at half the rate, i.e. +50% inflation on average over two years.
      1. +3
        21 September 2023 04: 46
        If regarding consumer goods from China, then yes, but also not 2 times. One and a half times. If relative to the dollar, then approximately a little less than 1 times

        the person wrote 2 times you objected
        that partly somewhere in 2 times, but mostly one and a half times, did this somehow greatly influence our purchasing power? They tell us that they have their own food, their own chickens, and everything of their own, and for a month for 4 drumsticks and legs, which I sometimes buy in the store ,from 167 rubles soared to 260-280 rubles. What prompted the rise in price of Russian goods, grown in Russia and fed with Russian feed? I see stability only in rising prices, which never fall. lol
  4. +4
    20 September 2023 21: 22
    Quote: Alexey Lan
    +25% inflation on average over two years.

    I don't agree with your opinion. (especially regarding the inflation rate from government officials)
    The inflation rate, judging by purchasing power, has long been off the charts at 25% or even more. More likely, about 25-30% and not in two years, but in a year.
  5. +4
    20 September 2023 21: 23
    As long as the Central Bank is an “independent” entity under the control of the IMF and the Federal Reserve System, and is tied to the dollar, everything will happen in the worst case scenario for the Russian economy, which is what we see. Positive changes are possible by changing the ownership and management of the Central Bank of the Russian Federation and bringing the subject of the Russian Federation into status. The long-term negative Gaidar-Chubais consequences imposed by the US “advisers” are manifested to this day in the work of the Central Bank of the Russian Federation on the orders of the IMF and the Federal Reserve.
    1. +1
      20 September 2023 21: 53
      unfortunately, it’s not only the Central Bank, but also the economic and economic bloc of the government, which is systematically destroying industry and agriculture with two instruments invented by the IMF but not canceled so far: 1 high taxes 2 bureaucratic extortion, certification, rationing, permits, inspections and bribes, fines, ..........President Putin's instructions regarding the abolition of all bans that do not lead to a threat to life are simply sabotaged by officials, extortionists, and corrupt just need to disperse supervision completely, give freedom to business..... .. Beglov doubled property taxes from January 1, 2024 in St. Petersburg...
      apparently in order to completely kill business and irritate the population, to overwhelm the courts and bailiffs with the fight against the people and the inventory of homeowners’ underpants for the purpose of selling at auction.

      the sediment tax has long been introduced in St. Petersburg and the amounts that Vodokanal extorts for this are huge, to overwhelm the courts and bailiffs with the fight against the people and the inventory of homeowners’ underpants for the purpose of selling at auction. ..... Rostransnadzor prohibits all freight and bus transportation, subjecting them to such conditions that you cannot travel without a bribe,

      The traffic police massively suppresses the rights (in 50 percent of cases illegally) of car owners to dispose of their property with wheels and returns the cars for ransom Art. 27.13 Code of Administrative Offences..

      The Ministry of Construction and the State Tax Service, together with GATI, took possession of all the land (formally private) and prohibits changing the purpose of the land or building something, planting, mowing, growing, installing or not installing trash cans, fences or a bench, without permission from a bribe, refusal, license, etc., and the rules are made so that you can’t do without a bribe or you’ll be fined.....

    2. +1
      20 September 2023 22: 07
      Another nonsense from a bad central bank. Who is this genius who is filling the deficit budget by weakening the ruble? Who did this? Again, everyone is to blame)
      The Central Bank is just showing its complete failure as an “agent of the IMF and the United States” by allowing some people to do nothing but simply lose currency and thus replenish the budget.
      Oh this central bank....
      If the Central Bank were an agent of the United States, it would never allow the currency to drop, which is obvious and the reasons for this are understandable to adequate people. And the Central Bank fulfills any wishes so that someone will report on how to close the budget deficit.
      Why should a “US agent” be allowed to fill the budget if, on the contrary, they should do so so that they receive fewer rubles upon conversion?
      1. +3
        20 September 2023 22: 52
        Frauds with the exchange rate are just the beginning (you can look at the game with the exchange rate from a different point of view). The main “successes” of the Central Bank of the Russian Federation are the lack of loans for the development of the economy and all the actions to strangle it.. There is no developed economy, no tax receipts, and dancing with the exchange rate is more like disguised sabotage.
        1. 0
          21 September 2023 07: 32
          the lack of loans is the result of manipulations with the exchange rate; if the discount rate were 1 percent, then there would be loans; raising the Central Bank rate cuts off all opportunities for loans
    3. 0
      21 September 2023 07: 40
      Quote: Vladimir Tuzakov
      The long-term negative Gaidar-Chubais consequences imposed by the US “advisers” are manifested to this day in the work of the Central Bank of the Russian Federation on the orders of the IMF and the Federal Reserve.

      true, but still, the economy is mainly influenced not by the exchange rate, but by the amount of taxes, every business is robbed by officials who stole it, and what they don’t steal, they invest in candy wrappers of foreign countries, the manufacturer must receive such a profit that he can develop without loans, This amount of taxes was set at the behest of our enemies from the IMF in order to buy green candy wrappers... and the stupid people in the government not only don’t understand this, but now they have decided to buy candy wrappers instead of other Rupees Yuan Turkish Liras, and they are still putting pressure on their manufacturer and spreading their hands " Why did GDP fall by 3 percent or more per year? Can’t this be hidden through Rosstat? or the fall in the ruble exchange rate"
  6. 0
    21 September 2023 01: 20
    During the panic mobilization, they were broadcasting from every source about the amount of payments for the contract. Now they hide their eyes with a smile, but why? It's probably time to pay what was promised. I remember how in the 90s I was a millionaire and could afford to buy myself a loaf of bread for 20 thousand forever wooden...
  7. +1
    21 September 2023 02: 59
    In fact, military wages fell almost half. If you increase VAT 10 times on luxury goods, perhaps the demand for currency will plummet.
    1. 0
      21 September 2023 07: 24
      it is necessary not to increase VAT (this is a selective ethnic tax on Russians) but to cancel, first of all, to cancel the so-called “VAT refund”, that is, payments to foreigners from the Russian budget, VAT is paid only by Russians and Russian-speaking people, and on the contrary, VAT is paid to foreigners by Russia and only about 100 BILLION dollars a year according to my estimates..... a cunning trap invented by the IMF and introduced by the deceased Gaidar and Chubais to rob Russia in favor of the West? if there were no VAT refund, then there would be no budget deficit, and if several extorting and parasitic ministries were dispersed, then in general the budget would be plump for necessary things and payments, the list of parasitic ministries is obvious: the Ministry of Sports, Transport, Construction, Agriculture, Education, Science, Labor, Digital Development, Far East, Roporrebnadzor Rostekhnadzor, Rosmolodezh, Federal Agency for Nationalities.... also disperse unnecessary supervision in the necessary ministries: fire supervision, land supervision, traffic police, guardianship and trusteeship..... budgets will appear immediately and people will be able to work, live and play sports without shouting, build, have a nationality, grow agricultural products, raise children, drive cars, carry passengers and cargo, etc., strengthen the prosecutor's office and let them control everything instead of 200 supervisors and inspectors, only the prosecutor's office should not prohibit license check extort like them, but only respond to crimes and events.....
  8. 0
    21 September 2023 08: 42
    Thimbles from the Central Bank and the Ministry of Finance are doing their usual thing - manipulating thimbles (read: the ruble exchange rate).
    Where and when were confidantes interested in the problems of those they were deceiving?!
  9. 0
    22 September 2023 16: 26
    couper les câbles marins transatlantique?