Serious changes in CBR monetary policy unlikely - Klepach
LONDON. Nov 30 (Interfax) - Russian Deputy Economic Development Minister Andrei Klepach does not think there will be any serious changes to Central Bank of Russia monetary policy at the end of 2011 - beginning of 2012.
"I do no think there will be any major changes," he told the press at a Russian banking forum in London.
Central Bank policy will depend on the situation in the global economy, Klepach said.
"Everything will depend on the Central Bank of Russia's reaction to how the situation develops in the euro zone," he said.
The Central Bank will not change rates on its operations in December 2011. "I do not think they will lower the rates," he said, adding that this was his opinion.
Rates will not be lowered in December because inflation is not slowing down, but increasing, Klepach said. In addition, there is no need now for a sharp increase in liquidity. The Central Bank can increase liquidity with existing instruments.
