Ukrainian Army units shell Donetsk Republic in first hours of newceasefireWorld June 24, 5:19
Politician says Russia vs Mexico football game will be interesting to watchSport June 23, 21:11
Kyrgyz president sees revival of relations with Russia as major result of his tenureWorld June 23, 20:49
Ex-premier says initiative to impeach Poroshenko stems from Ukraine’s economy collapseWorld June 23, 20:20
This week in photos: Confederations Cup opening and summer solstice celebrationsSociety & Culture June 23, 19:11
Turkish ambassador to Russia: Moscow and Ankara to join efforts in war on terrorWorld June 23, 18:45
Ukraine’s finance ministry files appeal to London Court against Russia in $3 bln debt caseBusiness & Economy June 23, 18:42
Ukrainian society tired of Poroshenko’s policy — expertRussian Politics & Diplomacy June 23, 17:58
Deutsche Welle sees Russian international broadcasters as threat to European ideasWorld June 23, 17:34
DAVOS, January 25 (Itar-Tass) – Chairman of Russia’s biggest bank Sberbank (Savings Bank) German Gref and Deputy Chairman of the Central Bank of Russia Alexei Ulyukayev were disagree on Friday pertaining to the level of the Central Bank’s interest rate. Gref speaks in favour of the indicator’s decrease, while Ulyukayev voiced confidence that the granting of ‘cheap’ money may be considered as a crime against business and nation.
“Now, the rates are too high. The economy could not grow with such high rates,” Gref told Russian reporters on the sidelines of the World Economic Forum in the Swiss city of Davos on Friday.
“I think that the rates may be decreased against the background of the inflation dynamics. I hope that they will be lowered,” he said, giving no forecasts when the rates may be decreased.
“It is too hard making such forecasts. Hopefully, the inflation dynamics will slow down within the year and the rates will go down too,” Gref said.
Gref’s words were a response to Ulyukayev’s statement made during a power breakfast, which was organized by Sberbank on the sidelines of the forum. According to the Central Bank’s deputy chairman, the balances of the world’s central banks will decrease in the near few years, which means that the economic growth rates will not be high.
“In such a situation, the granting of ‘cheap’ money is a crime against business and nation, because this may cause the accumulation of risks, which tend to materialize,” Ulyukayev said.
On January 15, The Board of Director of the Central Bank of Russia (CBR) made a decision to keep unchanged its refinancing rate and interest rates, which now amounts to 8.25 percent.