Keep silent about the costs of inflation italy telegram data for society and business, both short-term and especially long-term. But all world experience shows that it is easy to spin up the flywheel of inflation, but incomparably more difficult to slow it down. Therefore, we repeat that it is impossible to buy sustainable economic growth at the price of high inflation.
Beneficial for people with low incomes,
— Low inflation, firstly, protects people’s income and savings from depreciation. And, probably, for groups of the population with a more moderate income level this is more important than for wealthier citizens. The latter have a more diverse range of income sources, some of which suffer less from inflation, for example, company shares.
Secondly, as I have already said, low inflation increases the availability of long-term financing. This is important for businesses for investments, and for people, for example, for mortgages. Thirdly, with low inflation and high confidence in the national currency, the efficiency of the Central Bank’s monetary policy is higher. And as a result, the efficiency of our customer satisfaction: how to measure and improve country’s economy as a whole. And this is beneficial to all of us.
Recently Elvira Nabiullina asked
the heads of the largest banks whether they would agree to issue cheap loans if the Central Bank dropped the key alb directory rate significantly below inflation? They laughed it off, but the question remained — would they or not?