2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
The leadership of the Russian Central Bank is developing a difficult to predict and at the same time easily analyzed scheme for managing the money circulation system and the complex of credit resources. The above structure is positioned as the largest participant in the financial market, which does not have a clear and understandable strategy in developing mechanisms through which the national economy is managed.
The monetary policy of the Central Bank of the Russian Federation does not imply the satisfaction of all the "aspirations" and wishes of market participants, and when creating it, the management of the main financial institution does not take this parameter into account.
It should be noted that when deciding on issues of issuing loans, paramount importance is attached to creating an impeccable image of the Central Bank as a management system within the world-class framework. The leadership of the main financial institution is extremely interested in foreigninvestment structures, credit institutions, clubs and other organizations understood that the ongoing monetary policy of the Central Bank of the Russian Federation complies with international law. Evaluation of the effectiveness of the measures being developed by Russian experts is not a priority for the Central Bank.
The ongoing monetary policy of the Central Bank of the Russian Federation, of course, pursues very specific goals, the main of which is to reduce inflation and at the same time increase GDP. At the same time, the task is to create conditions for reducing the number of unemployed citizens and increasing the income of citizens.
It should be emphasized that the monetary policy of the Central Bank of the Russian Federation is formed on the principle of inflation targeting.
According to the target inflation method, the priority rate of a single mechanism for regulating monetary relations by the Central Bank is: the degree of monetization of the economy, the increase in the money supply, the size of interest rates, the level of required reserves.
It should be emphasized that for a long time the credit policy of the Central Bank of the Russian Federation was based on "vague" and not entirely clear principles that did not reflect the real state of affairs on the problems of inflation and currency regulation. However, the targets were often not true.
The methods of monetary policy used by the Central Bank did not contribute to the speedy fulfillment of obligations by officials, and the implementation of the planned reforms simplyslowed down. In this regard, the state of affairs in the implementation of fiscal policy was aggravated, tariffs were not regulated, inflation rose, and so on.
In fact, the main financial institution does not want to be held responsible for not containing the inflation rate, seeing it as the fault of the executive branch.
It should also be emphasized that when developing a mechanism for managing the monetary circulation system, its authors must necessarily take into account the monetary factor on the development of inflationary processes, which must be comprehensively studied and analyzed. And of course, one should pay attention to the dependence of inflation on the degree of influence of such a category as an increase in the money supply in the economy.
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