MOSCOW, June 15 (Reuters) - Russia’s central bank will continue raising interest rates in response to rising inflation and does not expect this to hinder economic growth, Governor Elvira Nabiullina said on Tuesday, days after the bank hiked its key rate to 5.5%.
Nabiullina said the central bank’s primary tool, monetary policy, cools and heats the economy in much the same way that clothes regulate body temperature.
And monetary policy can be roughly compared to seasonal clothes - in the cold we put on coats, summer dresses will hang in the wardrobe until the next summer season,” she said.
“It is exactly the same with monetary policy - it responds to the situation in the economy, to what is happening, and helps to achieve stability.
(Reporting by Elena Fabrichnaya; Writing by Alexander Marrow; Editing by Pravin Char)
Elvira Nabiullina, ” Nabiullina, Nabiullina, ”, Elena Fabrichnaya, Alexander Marrow, Pravin Char
State Duma, Wealth Fund
MOSCOW, State, Russia